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► Episode Notes:

Why has Paul been selling his stocks in a bear market? Find out on this week’s PlayingFTSE Podcast!

Following on from last week’s portfolio update from Steve and Steve, Paul is here with one of his very own. Half of it isn’t there any more. But why has he been selling? And do the Steves approve? Paul’s here to tell us everything.

The US Fed is hiking interest rates to tackle inflation. Cathie Wood thinks this is a bad idea. ARKK has had a rotten year and it’s crushed the ETF’s total return over the last five years. Is she talking her own book, or does she have a point?

We’ve also got more news from Netflix. We talked about the ad-sponsored plan last week, but Paul wasn’t here and he’s got some thoughts to contribute. With the ad-supported plan around a fiver, will anyone pay for the premium version? And how long will it stay this cheap?

Lastly, we’re looking at inflation and the macroeconomic news. With nothing better to do with his time, Steve W has been thinking about why the markets are constantly going down every time there’s a jobs announcement, an inflation print, or a GDP update. But what’s he thinking about the stock market at the moment?

It’s Q4 and Steve and Steve are here. Welcome to the PlayingFTSE Podcast!

September’s ended. The guy from Green Day might have been asleep, but the Steves have been doing stuff. They’re here to check in with their portfolios as well as their buy and sells.

We’re kicking off with a summary of the biggest holdings in our portfolios at the start of Q4. Steve D has Netflix in there. We’ve talked about this a lot on the show and the stock has been doing well. Is he planning to keep it?

Steve W has two new buys at the top of his investments. A Warren Buffett stock has been bumping Berkshire Hathaway down the list in his portfolio and there’s a REIT at the top of it. What’s our value investor been up to?

Next up, it’s the new buys. Both the Steves have been busy putting cash to work as the market comes down. Which UK stock have they both been putting their cash into this quarter? It’s one that we’ve talked about a fair bit on the show lately.

After that, it’s what’s been going the other way. Steve D has been moving things out of his portfolio and into his GIA for tax purposes. Steve W has been clearing the decks and concentrating his portfolio down to concentrate on his bigger holdings. There might be a surprise or two on the way here…

And we’re finishing up with two rounds of stocks that we’re looking at. They aren’t stocks for Paul, since neither of them pays a dividend. But we like them.

Steve D is looking at the leader in cystic fibrosis. It’s coming up to a patent cliff, but Vertex Pharmaceuticals has that covered. There’s cash and the business is maturing. Time for some shareholder returns soon?

Steve W is looking at yet more tech. He’s found something that has a good moat, charges a registration fee on .com websites, and has some good protection from disruption. It’s buying back shares, but can it keep the growth going?

Only on this week's PlayingFTSE

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This week's show is in partnership with InvestEngine.   If you sign up using this link via https://investengine.pxf.io/P0MY5e you'll get a £25 welcome bonus when you invest at least £100 (T's & C's apply).   InvestEngine (UK) Limited is Authorised and Regulated by the Financial Conduct Authority (FRN: 801128).

Our archers pick up their bows and arrows and take aim at this week’s stories. Only on the PlayingFTSE show!

Steve and Steve are in this week to talk about stories. And they’re starting with the small stuff. It’s the UK’s latest economic plan.

This has been top of mind for Steve W for a few days now and he’s been trying to figure his way around it. He’s not a fan, but he thinks it’s been badly covered in the mainstream media. What does it mean for the Steves and UK citizens and UK investors? Neither has an answer, but they’ll do their best to try and work through things.

It’s unusual that we get ourselves involved in anything political and so the rest of the show is stocks, stocks, and more stocks. We’ve got SIX that are on our radar as we head into October and Q4.

First up, Steve D is looking at Kering. He’s nearly always looking at Kering, because of all the designer gear he frequently wears. But he thinks the shares are particularly eye-catching at the moment. Find out why as Steve takes us through the stock’s latest decline.

Second, Steve W is looking at Rightmove. He’s nearly always looking at Rightmove, because of his enormous property empire. But he thinks that the shares are particularly eye-catching at the moment. Find out why as Steve takes us through the stock’s latest decline.

Third, Steve D is watching Legal & General. The UK insurer stands to do well as interest rates rise and the stock has come down to a level where Steve thinks it pays an interesting dividend. Could this be enough to get him over the line?

Fourth, Steve W is watching Wells Fargo. The US bank stands to do well as interest rates rise and the stock has come down to a level where Steve thinks it pays an interesting dividend. Could this be enough to get him over the line?

Fifth, Steve D has his eye on some healthcare. This is one we haven’t talked about much on the show, but Steve is looking at Biomerieux. Steve doesn’t back himself to evaluate a pharmaceutical’s pipeline, but his thesis here doesn’t depend on this. So what’s he seeing here?

Sixth, Steve W has his eye on some healthcare. This is one we haven’t talked about much on the show, but Steve is looking at GSK. Steve doesn’t back himself to evaluate a pharmaceutical’s pipeline, but his thesis doesn’t depend on this. So what’s he seeing here?

All on this week's PlayingFTSE Podcast!

Two of us have terrible internet connections. Welcome to the PlayingFTSE Podcast!  

We are three again. Paul's back from his latest adventures. Except he's not really, and he's with us live from a hotel room. We're recording this show on a Tuesday, so mark our homework as we go through the week where we boldly make unimaginative predictions about interest rates.  

Paul wants to know whether the Steves can pass a French or German financial literacy test? The questions are easy, but will the Steves trip over their own feet? And can you do any better? There's a 30% portfolio bonus in it for you if you can pass the test -- Paul says so, so get in touch with him to claim it.  

After that it's stocks. Steve D has been looking at a UK tech company -- yes there is such a thing. It's Endava, involved in outsourcing stuff. Is he just trying to tempt Paul with another stock with heavy exposure to Eastern Europe? And does this fly in the face of the recent trend towards anchoring?  

Steve W also has a tech stock! It's been that kind of week. Guidewire Software is a CRM company focused on insurers. It's unprofitable, pivoting its business in a way that's depressing its gross margins, and a long way from reaching full scale. Can he justify the price for it?  

Lastly, it's the story about Beyond Meat's COO going all Mike Tyson on someone's nose in a car park. Don't say we don't tackle the big issues. Only on this week's PlayingFTSE!

No Paul this week – it’s another round of Playing FTSTEVE!

On this week’s show, we’re talking about Adobe, Ethereum, stocks we’d like to buy, and the new FAANG stocks.

We’re kicking off with some impromptu news about Ethereum. There’s a merge going on. What’s happening and what does it mean for stocks? Steve D has the news and Steve W is thinking about Nvidia…

Next is the new FAANGs. Steve W’s been reading something from the Bank of America talking about the new leadership in stocks for a low-growth, high inflation world. What makes the list? And do the Steves prefer FAANG 2.0, or the original recipe?

We also have news from Adobe. The stock is down quite a bit since news of its acquisition of rival Figma was announced. Steve D’s been looking at this one -- $20bn sounds like a lot, especially since half of it is coming in Adobe’s stock.

Lastly, it’s stocks that we’ve got our eyes on. Steve D is looking at a European stock with a dominant position in aesthetic dentistry. Steve W has been checking out a FTSE 250 industrial distribution outfit. These aren’t for Paul, but could they be for you..?

Only on this week’s PlayingFTSE!

Wow. What an episode this turned out to be. Fracking, Hargreaves Lansdown, and Damien Talks Money. Only on this week’s PlayingFTSE Podcast!

Not much has happened this week. We’ve got a new Prime Minister, though. With Liz Truss taking charge, friend of the show Damien from Damien Talks Money is here to help us make sense of it all.

We’re starting off with energy. The new Prime Minister has announced plans to limit the average energy bill to £2,500 per year. Steve W’s heard that this is good for inflation – why?

After that, it’s on to the straightforward question of fracking. Damien wants to know what our regulars think of fracking. Steve D lives on a fracking site, Steve W doesn’t, and Paul isn’t sure. So who thinks what about getting gas out of the ground?

Next, we’re on to the real reason that Damien’s here. He wants to talk about awful investments that we’ve made in the past. Steve W once owned shares in a REIT – what went wrong there? Paul owns shares in a Russian miner – why? And Steve D invested in some businesses that went – which? Mostly, though, what’s Damien been unwisely putting his money into?

We finish with the news. Paul’s had a special offer from Hargreaves Lansdown. Steve W hasn’t, so he’s taking his ball somewhere else. And Steve D has the latest news on Freetrade’s seemingly-annual dilution of investors.

Only on this week’s PlayingFTSE!

Paul is BACK!!! But is he showing any signs of changing as a result of his time away? Find out on this week’s Playing FTSE podcast!!

We’re kicking off with a new ETF that Paul’s found. It’s thematic and it’s got some stocks in it that neither of the Steve’s has ever heard of. Will either of them be interested?

Next it’s onto the interest rates and the direction of the stock market. Both Steves have been pessimistic on the stock market for a couple of weeks now. Has either of them changed their mind?

Following that, we’re on to the small questions. Starting with the changing world order (according to Ray Dalio). Paul’s watched a cartoon – what does he think about this?

We’re also talking housing. Steve W’s getting on the ladder and looking to strike as interest rates increase. But is his timing all wrong. And does he care?

Lastly, we’ve got a stock. Steve W’s a user, Paul’s interested and Steve D’s a shareholder. It’s Okta! What does it do and what happened with its recent earnings report? Steve D has the answers.

What has two Steves and likes cricket? This week’s PlayingFTSE Show!  

This week, Paul’s gone missing after a mysterious meeting with Tom Cruise. But no matter, Steve and Steve have managed to tear themselves away from the cricket for long enough to put a show together.  We’re kicking things off with some news about Amazon – a stock that both Steves own. Two bits of news in fact.   

First, the news that they’re shuttering their Amazon Health operations. Does Steve D think this leaves the door open for Teladoc? And what does Steve W think the biggest drawback to Amazon is?  

Second is the news that Peloton has agreed to start selling its clothes airers exercise bikes on the retailer's platform. The Steves have different ideas about this. Could this be the light at the end of the tunnel of Peloton?   

From there it’s on to earnings. Steve W’s been looking at Salesforce. 

The stock is down significantly after its report, but the numbers looked ok. Weak guidance is the key here, but might this just be a temporary headwind?  Steve D, on the other hand, has been looking at Intuit. A much more impressive set of results from the software company and the stock has been responding accordingly. Would our growth investor keep buying at these prices?  

Even though Paul’s not here, we’ve still got two stocks for him. Steve W has a Warren Buffett stock that’s just completing a long turnaround process. It has a dividend yield above 4% and a reducing debt pile. One for the burgundy investor?  

Steve D is sticking closer to home. He’s looking at the company that makes those bricks that say ‘London’ on them. Get ready for an overview of the UK housebuilding sector, an insight into house construction, and a dividend over 4%. 

Only on this week’s PlayingFTSE show!

Where's the smart money going? We don't know, but find out what we're up to on this week's Playing FTSE podcast!  

It's another Playing FTSTEVE with Paul not away this week. We're kicking things off in the way the burgundy dividend enthusiast would have wanted -- by talking about how we feel about markets. Is it time to hide in dividend stocks again? Or are there some growth opportunities to be had?   

But enough of what we're up to -- it's 13F season. That means that Steve W's been looking at Warren Buffett, Michael Burry and Steve D's been checking in on Stan Druckenmiller and Josh Tarasoff. What lessons can we find in what the superinvestors are up to?  

With a slow news week, we're turning to some questions from you guys. Starting with who we think the best up-and-comers are in the world of investing. Steve W's got a YouTuber that you might want to check out and Steve D has a whole host of investors worth paying attention to.  

Then it's onto the question of free platforms. Do they encourage trading? And what's so bad about them if they do? We give our views in response to a question from a follower.  

Our last question is concerned with stocks for an ageing population. People are living longer and it's natural to wonder about which companies might benefit. Steve W's found an ETF. But what on earth is its largest financial holding doing in there!?  

We're rounding things out with another earnings report, this time from Steve D. Adyen, the Dutch payment processor has reported. The results are mixed, but Steve has the details. Is now a good time to buy this stock?  Find out on this week's Playing FTSE Podcast!

Why is Paul struggling to get it in? Find out on this week's PlayingFTSE podcast...  

It's been an interesting week in the markets. Stocks have been going up. (Remember when that was all they used to do?) Paul's wondering whether this is the sign that the market has reached its low point, at least for now. Steve W's hoping for the best and planning for the worst, and Steve D has his eye on the central bank.   

After that, we're kicking this week's show off with a nice user question. This one is about how we set price targets. Quite a few times, we've said that we like a stock at X price or we would like a stock if it were priced at Y. How do we figure these things out?   

The rest of our show is made up from looking at the earnings of one of the stocks we all own. It's Disney. The company reported earnings earlier this week and the stock is up as a result. Strong growth in Disney+ subscribers is driving the business forward at the moment, but is the market getting a bit carried away with itself?  

Find out on this week's PlayingFTSE Show!