Investor sentiment is more bullish than ever, with a record share of Americans expecting the S&P 500 to rise in 2025. Is this the peak of euphoria?

And in today’s Dumb Question of the Week: What’s the difference between hard and soft data?

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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:

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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. Terms and fees apply.

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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

Compared to developed countries, emerging markets have rarely looked cheaper. With valuations, economic growth, and demographic trends in their favour, is now the time to invest? Or could climate change, protectionism and debt hold them back?

And in today’s Dumb Question of the Week: Is South Korea an emerging market?

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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. Terms and fees apply.

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🎧 many-happy-returns.captivate.fm

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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

Germany is one of few Western countries to remain truly industrialised, boasting a massive manufacturing base and trade surplus. And yet, things have gone off the rails, with the economy contracting and the governing coalition collapsing.

We're joined by Wolfgang Münchau, whose new book argues we are witnessing the end of the German economic miracle.

And in today’s Dumb Question of the Week, we ask: Why don’t Germans invest in the stock market?

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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. Terms and fees apply.

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🎧 many-happy-returns.captivate.fm

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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

Sensationalist headlines often lead to poor investment decisions, causing many investors to fixate on issues that have little impact on long-term returns. So, where should investors really focus their attention?

And in today’s Dumb Question of the Week: Should you invest if you’re very nervous?

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Thank you to Raisin UK for sponsoring this episode.

Raisin UK is a free, easy-to-use online savings platform, with savings accounts from over 40 FSCS-protected banks and building societies. Simply register, apply to open as many accounts as you like, and manage everything with a single login. Elevate your savings game today.

What's more, 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 go to raisin.co.uk/pensioncraft

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Get in touch

📧 mhr@pensioncraft.com

🎧 many-happy-returns.captivate.fm

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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

Political risk is one of the most unquantifiable aspects of investing — and one of the most consequential. Shifts in regulation, tax and trade policies can shake economies and upend asset prices.

Our guest today is economist Larry Hatheway, who argues that markets vastly underestimate the dangers of a second Trump presidency.

And in today’s Dumb Question of the Week, we ask: Are trade deficits a problem?

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Thank you to Raisin UK for sponsoring this episode.

Raisin UK is a free, easy-to-use online savings platform, with savings accounts from over 40 FSCS-protected banks and building societies. Simply register, apply to open as many accounts as you like, and manage everything with a single login. Elevate your savings game today.

What's more, 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 go to raisin.co.uk/pensioncraft

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Get in touch

📧 mhr@pensioncraft.com

🎧 many-happy-returns.captivate.fm

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Join PensionCraft

🌐 Become a member at pensioncraft.com

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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

How should you invest when everything is expensive?

Stock market valuations are stretched, gold is up 40% on a year ago, and bitcoin has hit an all-time high. With some analysts forecasting a ‘lost decade’ for US stocks, is it time to look elsewhere?

And in today’s Dumb Question of the Week: Why is Warren Buffett holding so much cash?

---

Thank you to Raisin UK for sponsoring this episode.

Raisin UK is a free, easy-to-use online savings platform, with savings accounts from over 40 FSCS-protected banks and building societies. Simply register, apply to open as many accounts as you like, and manage everything with a single login. Elevate your savings game today.

What's more, 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 go to raisin.co.uk/pensioncraft

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Get in touch

📧 mhr@pensioncraft.com

🎧 many-happy-returns.captivate.fm

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Join PensionCraft

🌐 Become a member at pensioncraft.com

▶️ Subscribe on YouTube

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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

Gilt yields rose after the Autumn budget as markets absorbed sharp rises in investment, taxes and borrowing. Does Liz Truss’s mini-budget still haunt UK debt markets? And is there a risk that investors will shun UK debt?

In today’s Dumb Question of the Week: Does public investment ‘crowd out’ or ‘crowd in’ private sector activity?

---

Thank you to Raisin UK for sponsoring this episode.

Raisin UK is a free, easy-to-use online savings platform, with savings accounts from over 40 FSCS-protected banks and building societies. Simply register, apply to open as many accounts as you like, and manage everything with a single login. Elevate your savings game today.

What's more, 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 go to raisin.co.uk/pensioncraft

---

Get in touch

📧 mhr@pensioncraft.com

🎧 many-happy-returns.captivate.fm

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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

Investing is an uncertain journey, where chance, risk, and luck are constant companions. But can understanding probability help us live with the unknown?

We're joined by Sir David Spiegelhalter, Emeritus Professor of Statistics at the University of Cambridge and author of 'The Art of Uncertainty: How to Navigate Chance, Ignorance, Risk, and Luck'.

And in today’s Dumb Question of the Week, we ask: ‘Would you want to know when you will die?’

---

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. 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