Merryn Talks Money

Bloomberg senior reporter John Stepek is joined by co-editor of Bloomberg’s Markets Today blog, Morwenna Coniam to discuss the ever changing status of the Iran ceasefire and the resulting impact on oil prices and bond yields. They also highlight the growing evidence that the AI trade could be falling apart and what this means for global markets. See omnystudio.com/listener for privacy inform...

The number of REITs (real estate investment trusts) listed in London has shrunk dramatically over the past five years. Now the biggest REIT on the market is the subject of a bid from a US buyer. In this week's personal finance edition of Merryn Talks Your Money, Bloomberg senior reporter and author of the Money Distilled newsletter, John Stepek, is joined by Bloomberg real estate team leader Jack...

AI can read every earnings report, filing and research note in seconds — but can it ever replace the instincts of a seasoned investor? Merryn Somerset Webb sits down with Causeway Capital Management chief executive Sarah Ketterer to explore where AI is genuinely changing fund management and why human judgment still matters. Ketterer also shares where she is finding value in today's markets,...

Merryn Somerset Webb and John Stepek are joined by Cavendish's Roger Lee to unpack Andy Burnham's North Star of "Manchesterism" and what it could mean for the UK economy, markets, and investors. They debate whether devolving more power to the regions represents genuine economic reform or simply another version of heavy-handed state intervention, while exploring the implications for growth, governm...

Could vintage jewelry be one of the smartest real assets to own right now? Merryn Somerset Webb speaks with vintage jewelry expert Emma de Sybel, a former banker who is now the director of Baroque Rocks, about which gemstones, eras, and brands are holding their value—and why buying pre-owned pieces could offer both financial potential and something beautiful to wear. See omnystudio.com/liste...

Despite agreeing that AI is likely as transformative as its proponents argue, Ed Cole, head of multi-strategy equities at Man Group, believes it’s too early to understand whether there’s a bubble. Meanwhile, the growing backlash against globalization and an effort to reshore means traditional 60/40 portfolios are at risk of becoming outdated. He says a reallocation of assets across gol...

Merryn Somerset Webb is joined by Sam Unsted, editor of Bloomberg’s Markets Today blog. Together they discuss rallying UK gilts in the wake of Prime Minister Keir Starmer’s resignation, inflation fears resulting from the artificial intelligence infrastructure boom and how narrative and sentiment look to be shaping the gold price. See omnystudio.com/listener for privacy information.

Can Andy Burnham keep his promises without hitting Britons in the pocket? Merryn Somerset Webb speaks with Bloomberg's Phil Aldrick about the tax hikes, spending pressures and economic realities facing Britain's likely next Prime Minister—and why there may be no painless solutions. See omnystudio.com/listener for privacy information.

Carson Block believes investors may be underestimating the economic consequences of artificial intelligence. The Muddy Waters founder and CEO joins Merryn Somerset Webb to explain why recent advances in AI have made him rethink its impact on the labour market—and why he believes widespread displacement of knowledge workers could eventually create a major challenge for financial markets. See...

Merryn Somerset Webb and Bloomberg Opinion columnist and senior markets editor John Authers discuss how SpaceX’s market debut has highlighted the hidden risks of passive investing, from index concentration to the growing influence of benchmark providers. They also assess new Fed Chair Kevin Warsh’s first policy signals and debate whether today’s AI boom is a bubble—and what...

The SpaceX blockbuster IPO has captivated retail investors, but what happens after the initial excitement fades? Merryn Somerset Webb speaks to Hargreaves Lansdown's Anna Macdonald about the extraordinary demand for shares, the dangers of concentration risk, and what the IPO means for market democracy.  See omnystudio.com/listener for privacy information.

Laurence Hulse, founder and lead fund manager of Onward Opportunities, explains how he launched and grew a specialist UK small-cap investment trust despite one of the toughest environments in decades for both investment trusts and British equities. He shares his "gems among the rubble" approach to uncovering overlooked companies, discusses why UK small caps remain deeply undervalued and reveals ho...

On this week's Merryn Talks Money markets wrap, Merryn Somerset Webb and John Stepek discuss gold's recent correction and debate what healthy allocation could actually look like. They also consider what upcoming bumper IPOs mean for the return of public markets and whether inheritance tax free "patriotic bonds" could help Britain fund its defence budget. See omnystudio.com/listener for privacy inf...

Who became wealthier in 2025 and what do they want from their financial advisor? Merryn Somerset Webb sits down with Capgemini's Gareth Wilson to discuss the latest World Wealth Report, the rise of robo-advisors and family offices and why traditional wealth management firms are facing growing competition. They also debate the question: Do investors want empathy from their wealth manager or simply...

On this special episode of the Merryn Talks Money markets wrap, hosts Merryn Somerset Webb and John Stepek discuss the SpaceX IPO. How can UK investors get access? Do the numbers add up? Why will it make life more complicated for passive investors? And what are the implications for the long queue of AI IPOs still to come, and for wider markets? See omnystudio.com/listener for privacy information.

At a time when politicians across the West are calling for higher taxes on the wealthy, legal scholar and author John O. McGinnis offers a strikingly different view: what if democracy needs the rich? He joins Merryn Somerset Webb to discuss power, inequality, free speech and what he says is the hidden role wealth plays in keeping democratic societies healthy. See omnystudio.com/listener for privac...

On this week's markets wrap, John Stepek and Sam Unsted, editor of the Markets Today blog, explore the implications of SpaceX’s anticipated $75 billion IPO, debating whether its massive size could reshape market structure, passive investing, and investor appetite for AI-related assets. They also highlight Bitcoin’s sharp decline this year and the UK’s long-running challenge of en...

Inheritance tax is catching more families than ever, and recent rule changes will only extend the net even further. In this episode, hosts Merryn Somerset Webb and John Stepek discuss the most effective ways to reduce an IHT bill with inheritance tax specialist Rob May, including a detailed look at the types of insurance available, and how much they're likely to cost you. See omnystudio.com/listen...

Could Africa’s long-misunderstood population boom become its greatest economic advantage? Economist and author Joe Studwell joins host Merryn Somerset Webb to discuss his book, How Africa Works: Success and Failure on the World's Last Developmental Frontier . He argues that rising population density is already transforming the continent by creating deeper markets, boosting agricultural produ...

How can Keir Starmer - or whoever leads the country next - help to turn the UK’s fortunes around? Simon French, Managing Director, Chief Economist and Head of Research at Panmure Liberum joins co-host John Stepek to discuss former UK Prime Minister Tony Blair’s 5000-word prescription for the UK economy, the growing backlash towards Net-Zero policies and why the UK is at risk of sliding...

Hosts Merryn Somerset Webb and John Stepek take another listener question, this time around the pros and cons of ISAs, LISAs, and SIPPs. They debate the most tax-efficient method of saving depending on one's circumstances and why savers need to be aware of the withdrawal rules to avoid any nasty surprises. See omnystudio.com/listener for privacy information.

In Merryn's absence this week John Stepek and Sam Unsted, editor on the Bloomberg Markets Today live blog, discuss how weak UK economic data has actually provided some relief for gilts this week, look at the problems with both proposed and existing government price controls, and wonder whether the coming wave of mega-IPOs led by SpaceX might take some of the exuberance out of stocks. See omnystudi...

Merryn Somerset Webb and John Stepek answer listener questions on how retail investor flows, passive investing, and social media have reshaped markets, arguing that the surge in everyday investing has significantly boosted stock prices — particularly in the US. They also discuss practical personal finance challenges around pensions, capital gains tax, and passive versus active investing. See...

Merryn Somerset Webb speaks to Pictet Asset Management Chief Strategist Luca Paolini about why markets remain remarkably resilient despite geopolitical turmoil, inflation fears and mounting fiscal risks. Paolini argues that the AI investment boom, strong corporate earnings and persistent US economic strength continue to support markets — but warns that the era of US exceptionalism may be fad...

For this week's second installment of the news round up, hosts Merryn and John discuss how cheap UK stocks are still being bought up by private equity firms; and how rising inflation could put a stop to the highly-concentrated surge in US equity markets. They also talk about changes to the Premium Bond prize rate which mean the odds of winning are set to improve and consider how governments could...