This week, the team face a packed agenda: a looming US government shutdown, soaring global markets, and the first part of their quarterly portfolio review. Rich McDonald, Chris Fellingham, and Mark “Spice” Holden dig into everything from pharma stocks to sovereign wealth funds - before voting on whether the Chairman should keep his crown for another quarter.

• Best September since 2020: Global equities up 4% despite seasonal headwinds.
• All-Time Highs Everywhere: S&P 500, Nasdaq, Russell 2000, and FTSE 100 all setting new records.
• Gold Breakout: Precious metals hit multi-year highs.
• Biggest Buyout in History: $55bn leveraged buyout of Electronic Arts.
• Trump’s Busy Week: From drug price deals with Pfizer to a new sovereign wealth fund push.
• Europe’s Inflation Relief: Eurozone inflation hits 2.2%, while the UK lags at 3.8%.
• ADP Jobs Shock: Weak data spooks markets but fuels optimism for more Fed cuts.
• Shutdown Showdown: 800,000 US government workers furloughed, and markets asking: how long will it last?

• Performance to Date: Portfolio up +5.3% since inception.

• Star Performers:
• VanEck Blockchain ETF +32%
• Gold +13%
• Copper +7%
• BlackRock World Mining Trust +19%

• Laggards: DAX the weakest, India softens.

• Debates:
• Should winners like gold and crypto carry bigger weightings?
• Is 25% in cash too cautious or smart optionality?
• Risk appetite vs. sensible allocation.

📊 Quarterly Performance Slides:

We’ve pulled together the full set of portfolio performance slides so you can see exactly how the model portfolio has done over the past quarter - winners, laggards, and everything in between.

👉 View the Quarterly Performance Slides here

• How to think about quarterly reviews: scoring holdings A–E.
• The role of risk appetite in portfolio sizing.
• Why gold remains the “ultimate scarce asset.”
• What the US shutdown means (and doesn’t mean) for investors.
• Early signs of rotation: are US small caps finally worth a look?

📄 Download the Portfolio ETFs list: here

📄 Download the Portfolio Quarterly Review list: here

📧 Get in touch: [email protected]

Disclaimer:

This podcast is provided for educational and informational purposes only. It does not constitute investment advice, financial planning guidance, or a recommendation to buy, sell, or hold any securities. All portfolio discussions are for educational purposes only. Past performance is not a reliable indicator of future results.

Your capital is at risk. The value of shares, ETFs and ETCs can fall as well as rise, which could mean getting back less than you originally put in.

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