Anna Beilby worked her way up to CEO of Vp, a company known for renting its fleet of infrastructure equipment. Lord Lee has been a long-time custodian of the company’s shares and in this episode, the trio unpack the history of the business, threats it’s facing, and sectors the company will soon enter.

As always, Alex and John wrap up with an update on Lord Lee’s portfolio, plus his take on defence stocks.

Timestamps

0:59 Introduction

3:57 Lord Lee’s history with the company

5:17 Business model & threats

6:58 Hinkley Point

8:03 Rail demand

11:11 How it fits in Lord Lee’s portfolio

12:37 Questions from Lord Lee

15:33 Current trading outlook

17:49 Impact of tariffs

18:37 Dividend

22:38 2022 sale saga

25:24 Concerns over weak valuations

28:24 Financials

34:39 Changes to Lord Lee’s portfolio

36:24 Defence

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We begin with Aberdeen’s (ADBN) results, which pleased the market and sent shares up considerably. Julian Hofmann dives into the recent changes at the company and how they will impact investors. Jemma Slingo touches on another asset manager, Schroders (SDR) which also put out results.

It’s then onto this week’s Big Read on the future of mining. Commodities expert and author of the piece Alex Hamer lays out what’s shifting the gears in the industry, and how miners will adapt. Listen to hear about permitting and copper mining operations in the US, gold and rare earths.

Following the announcement the German government will up its defence spending, Julian Hoffman and Dave Baxter discuss the latest in the defence industry and the ETFs that offer investors a chance to take advantage.

Timestamps

1:48 aberdeen

8:11 Schroders

13:25 Mining

28:01 Defence

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Nick Train is the first to admit that his investors haven’t seen the returns they’re used to recently. But despite some calls that haven’t quite worked out, in this interview, he points out the areas that should make up for this in the future.

Listen to Dave Baxter and the fund manager discuss holdings in the fund such as Diageo (DGE) – which he’s bullish over despite falling alcohol consumption and the threat of weight loss drugs – and companies tapping into digital trends, such as Relx (RELX).

The pair also cover moving away from dividends, the state of UK asset managers, activism in the investment trust space and more.

This episode was recorded on 24 February.

Timestamps

00:51 What could end the underperformance

3:50 Stronger and weaker points of the portfolio and Relx

6:08 How much of the portfolio targets digital trends

8:05 Performance issues

12:39 Diageo

20:32 Unilever

23:46 Consumer exposure

26:20 UK market woes

29:42 Rightmove

31:56 Schroders and UK asset managers

33:33 Investment trusts

36:02 Clarkson and Intertek

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Market darling Rolls Royce (RR) is going from strength to strength. After a return to dividends topped with a lucrative buyback, shares were up 20 per cent on the day of recording. James Norrington, author of this Rolls-Royce Deep Dive, unpacks the prospects for the business and everything investors need to know.

Smith & Nephew (SN), a medical equipment manufacturer, continues to improve operating performance. Mark Robinson and Julian Hofmann discuss the company and also touch on what’s going well for med-tech business Uniphar (UPR).

Last but not least, Jemma Slingo unpacks our latest Big Read on banks. It hasn’t been a huge season for guidance upgrades, but there are still positives for the year. Listen to find out more.

Timestamps

1:29 Rolls Royce

10:37 Smith & Nephew

19:15 Banks

Claim your first 12 weeks of Investors' Chronicle Print + Digital for just £12. You will get instant access to our website and app, plus the magazine delivered to your door every week. To start your trial, visit www.investorschronicle.co.uk/podcasttrial

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We begin with Mony Group (MONY), better known as Money Supermarket, whose results showed the insurance industry isn’t struggling as some fear. Mark Robinson shares all investors need to know.

Arthur Sants, our US correspondent and author of this week’s Big Read on Nvidia (NVDA), explains the key points from the article. From the threat of DeepSeek and Chinese sanctions to potential positives for the future.

Last up, Alex Hamer unpacks the latest on engineer and consultant Wood Group (WG). The company’s CFO has stepped down after claiming he was more qualified than he was. Alex and Dan discuss the backdrop and where the valuation now stands.

Timestamps

1:08 Mony Group

9:49 Nvidia

23:54 Wood Group

Claim your first 12 weeks of Investors' Chronicle Print + Digital for just £12. You will get instant access to our website and app, plus the magazine delivered to your door every week. To start your trial, visit www.investorschronicle.co.uk/podcasttrial

*After your 12-week trial you will pay just £62 every 13 weeks by direct debit. If you’re not entirely satisfied, you can cancel up to 5 business days before your renewal date and only pay the £12 already debited. This offer is for UK subscribers only.

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Founded in 2010 by Carson Block, Muddy Waters Research is best known for its short-selling, predominantly in the mid-cap space.

In this episode of IC Interviews, Block joins Dave Baxter to discuss what it would take for him to bet against the Magnificent Seven, the UK activist investing landscape, opportunities in Vietnam and India, and why China is uninvestable.

This episode was recorded on 5 February.

Timestamps

00:31 State of short selling

9:04 What could change the market

16:30 Going against the Magnificent 7

18:16 Opportunities in UK sectors

21:28 Saba Capital

23:18 Vietnam fund

27:15 China

30:48 India

33:03 How short and long differ

Claim your first 12 weeks of Investors' Chronicle Print + Digital for just £12. You will get instant access to our website and app, plus the magazine delivered to your door every week. To start your trial, visit www.investorschronicle.co.uk/podcasttrial

*After your 12-week trial you will pay just £62 every 13 weeks by direct debit. If you’re not entirely satisfied, you can cancel up to 5 business days before your renewal date and only pay the £12 already debited. This offer is for UK subscribers only.

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Christoper Akers kicks off the podcast with engineer Renishaw’s (RSW) results. From supply chain issues to long-standing murmurs of a sale, find out why investors were disappointed.

Valeria Martinez then unpacks designer and manufacturer Filtronic (FTC), whose results were warmly received by the market. Listen to find out how the firm landed contracts with SpaceX, which has been a leading factor in its 300 per cent share price increase over the past year, and how it is expanding to grow its customer base.

Last up, we cover British American Tobacco (BAT). Its latest results were not as strong as hoped, thanks to a struggling tobacco alternatives market and strong competition from Philip Morris (PM). Mark Robinson explains all investors need to know.

This episode was recorded on 13 February.

Timestamps

1:30 Renishaw

9:24 Filtronic

25:06 British American Tobacco

Claim your first 12 weeks of Investors' Chronicle Print + Digital for just £12. You will get instant access to our website and app, plus the magazine delivered to your door every week. To start your trial, visit www.investorschronicle.co.uk/podcasttrial

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This month, Lord Lee and Alex are joined by Member of Youth Parliament, Cameron Holt. At just 16 years old, Cameron’s goal is to get the government to recognise it is failing children with financial literacy. He believes, that through incorporating it into the curriculum, children will increase their confidence in a post-education world, and be more wary of the dangers of online fraud and debt.

In the episode, the trio unpack the issues facing children and young people. From ways schools, parents and grandparents can increase young people’s interest in finances, to a petition Cameron has started which he hopes will make financial education statutory in secondary schools across the UK.

The podcast rounds up with an update from Lord Lee’s portfolio, including news on holdings Town Centre Securities (TOWN), Concurrent Technologies (CNC) and PZ Cussons (PZC), plus his take on how Donald Trump will affect the UK.

Click here to sign Cameron’s petition to make financial lessons statutory in schools.

If you have any questions you want to pose to Lord Lee and Alex, write to alex.newman@ft.com

Read Cameron’s article for the Investors’ Chronicle here

Timestamps

1:16 Cameron Holt

5:04 What needs to change with financial education

6:03 Lord Lee’s experience of learning about finance

9:59 Cameron’s study

12:55 NatWest shares

14:24 Do schools offer financial advice on university

16:14 How to bridge the gap in financial literacy among children

21:35 Cameron’s petition

24:51 Updates on Lord Lee’s portfolio

27:45 Town Centre Securities

29:42 Supermarket Income Reit

30:41 Concurrent Technologies

31:47 PZ Cussons

Claim your first 12 weeks of Investors' Chronicle Print + Digital for just £12. You will get instant access to our website and app, plus the magazine delivered to your door every week. To start your trial, visit www.investorschronicle.co.uk/podcasttrial

*After your 12-week trial you will pay just £62 every 13 weeks by direct debit. If you’re not entirely satisfied, you can cancel up to 5 business days before your renewal date and only pay the £12 already debited. This offer is for UK subscribers only.

Hosted on Acast. See acast.com/privacy for more information.