Brewin Dolphin Podcast

In this week’s appearance, Ben Gutteridge, Head of Fund Research talks to Cormac Weldon, lead manager on the Artemis US Select fund about the Fed’s recent decision to leave interest rates on hold. Discussions then move to market valuations at large, before concluding with where Cormac sees the most attractive opportunities.

Please review the podcast on iTunes and if you have any particular requests for topics to be covered then please post them on our website or on Twitter using the tag #BrewinPodcast

The value of investments can fall and you may get back less than you invested. Past performance is not a guide to future performance. All information within this publication is for illustrative purposes only and is not intended as investment advice. No investment is suitable in all cases and you have any doubts as to an investment’s suitability then you should contact your financial adviser. The opinions expressed in this podcast are not necessarily the views held throughout Brewin Dolphin Ltd. We or a connected person may have positions in or options on the securities mentioned herein or may buy, sell or offer to make a purchase or sale of such security mentioned in this podcast. For further information, please refer to our conflicts policy which is available on the footer below. If you invest in currencies other than your own, fluctuations in currency value will mean that the value of your investment will move independently of the underlying asset.

This week our Head of Fund Research, Ben Gutteridge, talks to Evan Bauman the co-lead manager of the Legg Mason ClearBridge US Aggressive Growth Fund. The discussion briefly covers Evan’s style of ‘contrarian’ investing, but the focus is on those areas where Evan sees the greatest long-term return potential. These sectors are not shy of courting controversy and include the Biotech sector, Energy and Technology.

Please review the podcast on iTunes and if you have any particular requests for topics to be covered then please post them on our website or on Twitter using the tag #BrewinPodcast.

The value of investments can fall and you may get back less than you invested. Past performance is not a guide to future performance. All information within this publication is for illustrative purposes only and is not intended as investment advice. No investment is suitable in all cases and you have any doubts as to an investment’s suitability then you should contact your financial adviser. The opinions expressed in this podcast are not necessarily the views held throughout Brewin Dolphin Ltd. We or a connected person may have positions in or options on the securities mentioned herein or may buy, sell or offer to make a purchase or sale of such security mentioned in this podcast. For further information, please refer to our conflicts policy which is available on the footer below. If you invest in currencies other than your own, fluctuations in currency value will mean that the value of your investment will move independently of the underlying asset.

This week Ben Gutteridge, Brewin’s Head of Fund Research, is joined by Jim Reid, Deutsche Bank’s Head of Global Credit Strategy, to discuss the current market environment. The conversation begins with an assessment of the policy outlook at the world’s major central banks, before a more in depth look at the challenges facing the high yield market. Jim also makes some predictions for 2016.

Please review the podcast on iTunes and if you have any particular requests for topics to be covered then please post them on our website or on Twitter using the tag #BrewinPodcast.

The value of investments can fall and you may get back less than you invested. Past performance is not a guide to future performance. All information within this publication is for illustrative purposes only and is not intended as investment advice. No investment is suitable in all cases and you have any doubts as to an investment’s suitability then you should contact your financial adviser. The opinions expressed in this podcast are not necessarily the views held throughout Brewin Dolphin Ltd. We or a connected person may have positions in or options on the securities mentioned herein or may buy, sell or offer to make a purchase or sale of such security mentioned in this podcast. For further information, please refer to our conflicts policy which is available on the footer below. If you invest in currencies other than your own, fluctuations in currency value will mean that the value of your investment will move independently of the underlying asset.

We’ve talked a lot in previous podcasts about the Chinese economy but not as much about the Chinese equity market. This week has been the worst in six years for Chinese shares so Guy Foster, Head of Research talks to Bradley Okita, Managing Director at Neuberger Berman about what triggered the rise and fall of the Shanghai stock market.

Bradley speaks about the recent opening up of the second largest stock market on the globe, the “A-share” market to global investors and the effects this is having on the market and sentiment. With all eyes on whether or not China will get added to the MSCI global benchmark, Bradley explains that he sees it as inevitable, and thus asks the question when and not whether. Looking for answers behind the recent surge in the market since the financial crisis, valuations have dwindled leaving stocks on cheap valuations and despite China’s slow-down in growth, 7% is still well above global growth – something which Chinese shares have failed to capitalise on in the past.

Please review the podcast on iTunes and if you have any particular requests for topics to be covered then please post them on our website or on Twitter using the tag #BrewinPodcast

The value of investments can fall and you may get back less than you invested. Past performance is not a guide to future performance. All information within this publication is for illustrative purposes only and is not intended as investment advice. No investment is suitable in all cases and you have any doubts as to an investment’s suitability then you should contact your financial adviser. The opinions expressed in this podcast are not necessarily the views held throughout Brewin Dolphin Ltd. We or a connected person may have positions in or options on the securities mentioned herein or may buy, sell or offer to make a purchase or sale of such security mentioned in this podcast. For further information, please refer to our conflicts policy which is available on the footer below. If you invest in currencies other than your own, fluctuations in currency value will mean that the value of your investment will move independently of the underlying asset.

This week’s guest-filled Brewin Dolphin podcast looks at two topics: the current Greek negotiations with the Eurozone and the upcoming UK May election.

On the day that the UK government released public finance numbers we have an interview with Professor Steve Keen of Kingston University. He discusses his leftfield economic views and argues that people are looking at government deficits in the wrong way. He also discusses the current Greek stand-off and how he thinks his friend, Greek finance minister Varafoukis, will (re)act.

In addition, Professor Richard Rose from the University of Strathclyde, Glasgow is on the podcast to discuss his recent Toscafund commissioned paper, he reveals who will win the election, what impact UKIP will have, and which party “will have done extremely well if they require a second taxi to take their MPs to parliament”.

Please review the podcast on iTunes and if you have any particular requests for topics to be covered then please post them on our website or on Twitter using the tag #BrewinPodcast

The value of investments can fall and you may get back less than you invested. Past performance is not a guide to future performance. All information within this publication is for illustrative purposes only and is not intended as investment advice. No investment is suitable in all cases and you have any doubts as to an investment’s suitability then you should contact your financial adviser. The opinions expressed in this podcast are not necessarily the views held throughout Brewin Dolphin Ltd. We or a connected person may have positions in or options on the securities mentioned herein or may buy, sell or offer to make a purchase or sale of such security mentioned in this podcast. For further information, please refer to our conflicts policy which is available on the footer below.

There will be very few inboxes in the City which aren’t graced by the Early Morning Reid, Deutsche Bank’s daily market update on the most pressing macro stories. We are delighted that our usual hosts, Ben Gutteridge and Guy Foster are joined by the Early Morning Reid’s author, Jim Reid, at this stressful time in the Greek debt negotiations to give his thoughts on how the crisis will develop over the short, medium and long terms. Jim also discusses his fears over secular stagnation, why quantitative easing might be the lesser evil now, his preferred asset allocation and his thoughts on today’s UK inflation figures. He regrets not having enough time to discuss Liverpool’s FA cup draw.

This Friday’s podcast will feature a forecast for the forthcoming UK general election and, following on from Jim’s comments that the monetary framework might be due a refresh, we will be talking to Steve Keen, who predicted the financial crisis based upon his non-mainstream take on macroeconomics and who is a friend of Greek Finance Minister Yanis Varoufakis.

Please review the podcast on iTunes and if you have any particular requests for topics to be covered then please post them on our website or on Twitter using the tag #BrewinPodcast

The value of investments can fall and you may get back less than you invested. Past performance is not a guide to future performance. All information within this publication is for illustrative purposes only and is not intended as investment advice. No investment is suitable in all cases and you have any doubts as to an investment’s suitability then you should contact your financial adviser. The opinions expressed in this podcast are not necessarily the views held throughout Brewin Dolphin Ltd. We or a connected person may have positions in or options on the securities mentioned herein or may buy, sell or offer to make a purchase or sale of such security mentioned in this podcast. For further information, please refer to our conflicts policy which is available on the footer below.

In arguably the Podcast’s greatest coup, this week Ben Gutteridge, Head of Fund Research, talks to Richard Woolnough, the City’s most widely recognised bond fund manager.

On the agenda is monetary policy, the opportunity in credit markets and the all-important matter of liquidity.

Please review the podcast on iTunes and if you have any particular requests for topics to be covered then please post them on our website or on Twitter using the tag #BrewinPodcast

The value of investments can fall and you may get back less than you invested. Past performance is not a guide to future performance. All information within this publication is for illustrative purposes only and is not intended as investment advice. No investment is suitable in all cases and you have any doubts as to an investment’s suitability then you should contact your financial adviser. The opinions expressed in this podcast are not necessarily the views held throughout Brewin Dolphin Ltd. We or a connected person may have positions in or options on the securities mentioned herein or may buy, sell or offer to make a purchase or sale of such security mentioned in this podcast. For further information, please refer to our conflicts policy which is available on the footer below. If you invest in currencies other than your own, fluctuations in currency value will mean that the value of your investment will move independently of the underlying asset.

JP Morgan’s Chief Market Strategist, Stephanie Flanders, returns to face Brewin Dolphin’s Ben Gutteridge (Head of Fund Research) and Guy Foster (head of Research) in our latest podcast. As the post-election smoke clears Stephanie looks at the big issues facing the UK economy generally and indeed the wider developed world.

The big issue that concerns Stephanie is the apparent sudden deterioration in the trend rate of productivity growth. Productivity is the amount of output or GDP divided by the number of people in work. The good news, for the UK, has been the resilience of employment but the flip side is that productivity has been lower as a result. A sudden rebound in growth with no change in employment could return the UK to its trend rate however, absent such a jump, the fear is that the productive capacity of the UK economy has been permanently diminished. But without this ‘spare capacity’, there would be no shock absorber for an increase in demand. This could mean inflationary pressures appear sooner and that interest rates have to rise faster than otherwise believed.

This week Ben Gutteridge interviews internationally acclaimed money manager Terry Smith, Chief Executive & CIO of Fundsmith. First on the agenda is Fundsmith’s Investment Philosophy which governs the decision making process but also shows clear differentiation from the competition. The conversations then turns to market related matters where Terry shares his non-mainstream view on quantitative easing. Rounding out the discussion Terry reveals his outlook for areas of Technology and Beverages.

Please review the podcast on iTunes and if you have any particular requests for topics to be covered then please post them on our website or on Twitter using the tag #BrewinPodcast

The value of investments can fall and you may get back less than you invested. Past performance is not a guide to future performance. All information within this publication is for illustrative purposes only and is not intended as investment advice. No investment is suitable in all cases and you have any doubts as to an investment’s suitability then you should contact your financial adviser. The opinions expressed in this podcast are not necessarily the views held throughout Brewin Dolphin Ltd. We or a connected person may have positions in or options on the securities mentioned herein or may buy, sell or offer to make a purchase or sale of such security mentioned in this podcast. For further information, please refer to our conflicts policy which is available on the footer below

In this week’s podcast Guy Foster, Brewin Dolphin Head of Research seeks to lift the lid on the policies of Jeremy Corbyn which have been described by 41 economists in one letter as being mainstream economics, following which a different 55 economists wrote to the FT claiming those policies would be highly damaging. Discussing the matter is the architect of the policies Richard Murphy, author of The Courageous State and writer of the Tax Research UK blog. Also joining us will be Frances Coppola, who writes for the FT and Forbes and whose own blog, Coppola Comment seeks to broaden the debate on the efficacy of quantitative easing and other economic policies.

Please review the podcast on iTunes and if you have any particular requests for topics to be covered then please post them on our website or on Twitter using the tag #BrewinPodcast

The value of investments can fall and you may get back less than you invested. Past performance is not a guide to future performance. All information within this publication is for illustrative purposes only and is not intended as investment advice. No investment is suitable in all cases and you have any doubts as to an investment’s suitability then you should contact your financial adviser. The opinions expressed in this podcast are not necessarily the views held throughout Brewin Dolphin Ltd. We or a connected person may have positions in or options on the securities mentioned herein or may buy, sell or offer to make a purchase or sale of such security mentioned in this podcast. For further information, please refer to our conflicts policy which is available on the footer below. If you invest in currencies other than your own, fluctuations in currency value will mean that the value of your investment will move independently of the underlying asset.