Merryn Talks Money

Latest Episodes:

Live from Fringe: What Would Adam Smith Think About Trump’s Tariffs? Aug 29, 2025

Show notes

Could Scottish philosopher and economist Adam Smith make sense of the economic world that exists today?

In this episode of Merryn Talks Money, Merryn Somerset Webb speaks with Alec Cutler, portfolio manager of the Orbis Global Balanced and Cautious funds, Tom Slater, manager of Scottish Mortgage and Bloomberg senior reporter John Stepek about how portions of Smith’s bestsellers The Theory of Moral Sentiments and The Wealth of Nations relate to today’s issues in global trade, technology, renewable energy and investment strategies.

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Best of: The 'Humble' Investor Says Sell Private Equity, Sell US Tech, Buy Polish Small Caps Aug 15, 2025

Show notes

Daniel Rasmussen, founder of Verdad Advisers and author of The Humble Investor: How to Find a Winning Edge in a Surprising World, joins Merryn.

They discuss his book, why all forecasts are wrong (and why we need them anyway), the case for selling US tech and buying small caps, whether we’re in an artificial intelligence bubble, and Japanese equities.
This is a replay of a conversation taped in January this year.

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Have We Finally Turned a Corner? Aug 14, 2025

Show notes

John Stepek, Bloomberg senior reporter and author of the Money Distilled newsletter is joined by Opinion columnist Marcus Ashworth to discuss the unexpected good news about the UK economy, why we’re currently in a buyers market when it comes to housing and why the Bank of England needs to continue to hold its nerve.

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Best of: Is There a Tradeoff Between Net Zero and UK Growth? Aug 08, 2025

Show notes

There’s no tradeoff between net zero and growth in the UK. That’s the conventional wisdom and the position of the current government. But what if it’s the decline in available electricity that’s causing productivity, GDP and living standards to stagnate?

Research from Kallum Pickering, chief economist at Peel Hunt, suggests there may indeed be a connection. He joins Merryn Somerset Webb and senior reporter John Stepek on Merryn Talks Money to explain that the rise of power-hungry artificial intelligence and the UK’s renewed focus on defense may mean the government should reexamine its energy policies.

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Tactics, Tariffs and Truth Bombs Aug 06, 2025

Show notes

Whilst usual host Merryn Somerset Webb is still out on holiday, John Stepek is joined by Bloomberg Opinion columnist Marcus Ashworth to discuss America's tariff war vs Switzerland, the latest UK fiscal blackhole estimates and Rachel Reeves' job security.

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The Global Reallocation of Trust Aug 01, 2025

Show notes

In this week’s Merryn Talks Money, host Merryn Somerset Webb sits down with Euronext CEO, Stéphane Boujnah to explore the reasoning behind the sense that investors are starting to look away from the US and towards Europe for opportunties. They discuss a range of topics from evolving market conditions, investor sentiment and the growing uncertainty surrounding US economic stability. They also discuss the impact of Europe’s institutional framework on its investment appeal and the role of European market integration in attracting capital.

“Europe today is perceived as a large Switzerland. It’s not like everyone is getting fascinated by the growth prospects of European economies,” says Boujnah. “It’s just the feeling is that the institutional framework is stable and predictable.”

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The US-EU Tariff Deal and Reeves vs Bailey Jul 30, 2025

Show notes

Whilst usual host Merryn Somerset Webb is out on holiday, John Stepek is joined by Bloomberg Opinion columnist Marcus Ashworth to discuss why America's tariff deal with the European Union is actually quite good, the spat between Chancellor Rachel Reeves and Bank of England Governor Andrew Bailey and the mood music amongst UK consumers.

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Are UK Retirement Homes Worth the Investment? And More Housing Questions Answered Jul 29, 2025

Show notes

Paula Higgins, CEO of HomeOwners Alliance, joins hosts Merryn Somerset Webb and John Stepek to answer a few more UK housing questions. They tackle all the things you need to know if you're considering a retirement apartment, if you're thinking about buying a house via auction, and Paula explains why home buyers insurance is always worth considering.

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Why Playing the Long Game Still Matters with Scottish Mortgage's Tom Slater Jul 25, 2025

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Scottish Mortgage Manager Tom Slater joins Merryn Talks Money to explain how the UK investment trust is trying to find tomorrow’s market winners.

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Downward Spiral: UK House Prices on the Slide Jul 23, 2025

Show notes

Hosts Merryn Somerset Webb and John Stepek discuss falling UK house prices, capital exodus and relocating to west London.

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