The Evidence-Based Investor

In the 12th of a series of 12 TEBI episodes looking at meaning and money during later careers or second lives, Jonathan Hollow talks to Simon Bullock, founder of Mulberry Bow, the chartered financial planning firm that has supported the series. They look back at Simon's favourite clips from the previous 11 episodes. Jonathan also talks to Simon about his own milestones in life and business, including his change of heart about life and work in his late twenties, and what it's been like to set up and run a successful business while spending half his time in France. This podcast series has been developed with financial planning firm Mulberry Bow. Based in London, they offer a highly personalised service to around 150 individuals and families. Robin Powell and Jonathan Hollow are very grateful for their enthusiastic support for "Second Lives". Transcript: https://www.evidenceinvestor.com/simon-bullock/ Mulberry Bow: https://www.mulberrybow.com/ Jonathan Hollow and Robin Powell's book "How To Fund The Life You Want": http://tinyurl.com/how2fund --

In the 11th of a series of 12 TEBI episodes looking at meaning and money during later careers or second lives, Jonathan Hollow talks to a self-trained artist who has made a mid-life new life for herself on the Welsh borders. Many people dream of painting for a living, but Helen Arthur has made it happen. She describes her success as modest financially, but she is highly focused on her own artistic goals, and on those terms she has achieved contentment alongside success. She is fascinatingly articulate about how she pursues those goals, and how she's moved from a place of safety to artistic experimentation, always seeking new ways to capture the glories of the Welsh landscape that looms outside her house. This podcast series has been developed with financial planning firm Mulberry Bow. Based in London, they offer a highly personalised service to around 150 individuals and families. Robin Powell and Jonathan Hollow are very grateful for their enthusiastic support for "Second Lives". Transcript: https://www.evidenceinvestor.com/second-lives-civil-servant-artist/ -- Helen's website: https://www.helenarthur.art/ — Helen's "Kitchen Table Creatives" newsletter: https://kitchentablecreatives.substack.com/ -- Mulberry Bow financial planners: https://mulberrybow.com/ — Jonathan Hollow and Robin Powell's book "How To Fund The Life You Want":  http://tinyurl.com/how2fund --

In the 10th of a series of 12 TEBI episodes looking at meaning and money during later careers or second lives, Jonathan Hollow talks to one of the global founders of the 4-day week movement, Charlotte Lockhart. What if we could continue in our current jobs, and have 50% more free time to pursue our other passions, every single week? That's Charlotte's vision. She has a fascinating story. She more or less fell into the role of being a global spokesperson and influencer about the idea of a better work-life balance – because she and her partner tried this approach in the business they built and own: and it worked! The global interest was so immense, they felt they had a duty and an opportunity to spread the evidence and the methods they tried across the world. And businesses all over the world are now experimenting with the evidence and methods provided by her organisation, 4-Day Week Global. Charlotte talks frankly about the generational change that she feels is driving this movement, and what it's been like to face this moment of opportunity at the same time as as a diagnosis of cancer. Her energy is simply inspirational. This podcast series has been developed with financial planning firm Mulberry Bow. Based in London, they offer a highly personalised service to around 150 individuals and families. Robin Powell and Jonathan Hollow are very grateful for their enthusiastic support for "Second Lives". Transcript: https://www.evidenceinvestor.com/charlotte-lockhart-work-life-balance/ -- Mulberry Bow financial planners: https://mulberrybow.com/ — 4-Day-Week Global: https://www.4dayweek.com/  — 4-Day-Week Global's evidence base: https://www.4dayweek.com/research -- Jonathan Hollow and Robin Powell's book "How To Fund The Life You Want": http://tinyurl.com/how2fund --

In the ninth of a series of 12 TEBI episodes looking at meaning and money during later careers or second lives, Jonathan Hollow interviews former Paralympian, and chartered financial planner and wealth manager, Scott Moorhouse. Scott provides an astute explanation of how he learned to throw the javelin throwing at a world-class level. He shares insights from his personal journey, starting from losing a leg at six weeks old to participating in the 2012 London Paralympics. The discussion covers Scott's post-Paralympic life, exploring his transition to the financial services industry to work at Mulberry Bow. Drawing on his experiences, Scott discusses the significance of deliberate planning and adaptability in navigating life's uncertainties. The conversation also touches on the language surrounding disability and the impact of personal stories on changing perspectives. This podcast series has been developed with financial planning firm Mulberry Bow. Based in London, they offer a highly personalised service to around 150 individuals and families. Robin Powell and Jonathan Hollow are very grateful for their enthusiastic support for "Second Lives". Transcript: https://www.evidenceinvestor.com/scott-moorhouse-living-with-purpose/ -- Mulberry Bow financial planners: https://mulberrybow.com/ — Scott at Mulberry Bow: https://www.mulberrybow.com/team/scott-moorhouse/ -- Jonathan Hollow and Robin Powell's book "How To Fund The Life You Want": http://tinyurl.com/how2fund --

In the eighth of a series of 12 TEBI episodes looking at meaning and money during later careers or second lives, Jonathan Hollow interviews writer and publisher Jonathan Clements. Jonathan Clements enjoyed a hugely successful career as a personal finance writer for The Wall Street Journal, but as he candidly confesses in this interview, for a long time he was addicted to frugality and the future at the expense of life in the here and now. He also worked for Citigroup and lectured college students on personal finance - both experiences he looks back on with less than pleasure, as he explains. In his frank and highly articulate voice, he explains why he's still restless in his early sixties, and what new challenges he is exploring. He then discusses the lively life stories and examples that emerge from his most recent book: "My Money Journey: how 30 people found financial freedom, and you can too." This podcast series has been developed with financial planning firm Mulberry Bow. Based in London, they offer a highly personalised service to around 150 individuals and families. Robin Powell and Jonathan Hollow are very grateful for their enthusiastic support for "Second Lives". Transcript: https://www.evidenceinvestor.com/jonathan-clements-what-ive-learned-about-life-and-money/ -- Links to key mentions in this podcast: Jonathan's "Humble Dollar" website - https://humbledollar.com/ — Jonathan's latest book, "My Money Journey"  - https://www.harriman-house.com/mymoneyjourney — Mulberry Bow financial planners: https://mulberrybow.com/ — Jonathan Hollow and Robin Powell's book "How To Fund The Life You Want": http://tinyurl.com/how2fund --

In the seventh of a series of 12 TEBI episodes looking at meaning and money during later careers or second lives, Jonathan Hollow interviews CEO and Editor-in-Chief of The Bureau of Investigative Journalism, Rozina Breen. Rozina candidly shares her journey from a working-class background to leading a not-for-profit newsroom, reflecting on the choices, challenges, and resilience that shaped her highly successful career path – through the BBC to her current role. Together, they talk through the benefits of investigative journalism from a not-for-profit space, and her fresh mission to spark change and expose justice. Rozina's journey and travels, resilience, and the choices she made unfold, providing a glimpse into the intricate balance of family, career, and risk-taking mid-career. This podcast series has been developed with financial planning firm Mulberry Bow, who chose TBIJ as their philanthropy of the year 2023. Based in London, they offer a highly personalised service to around 150 individuals and families. Robin Powell and Jonathan Hollow are very grateful for their enthusiastic support for "Second Lives". Transcript of this episode: https://www.evidenceinvestor.com/second-lives-taking-risks-with-investigative-journalism/ -- Links to key mentions in this podcast: The Bureau of Investigative Journalism - https://www.thebureauinvestigates.com/ — To donate  - https://www.thebureauinvestigates.com/support-us — Mulberry Bow financial planners: https://mulberrybow.com/ — How To Fund The Life You Want: http://tinyurl.com/how2fund --

In the sixth of a series of 12 TEBI episodes looking at meaning and money during later careers or second lives, Jonathan Hollow interviews serial entrepreneur and Gym Group founder John Treharne. John has built not one, but two enormously successful businesses. The most recent of these businesses, Gym Group, was begun from a single site when he was in his early fifties. Less than 20 years later, it has 231 branches all around the UK, and more than 800,000 members. John speaks in the interview about the origins of his entrepreneurial streak, from his racquet sports career in his early twenties. He played squash for England. He sees the parallels between winning in squash and his enduring will to build, succeed and motivate. But social and charitable concerns have also been woven throughout his career, and he has tried, as he tells Jonathan, not to be changed by wealth and success. He believes in staying close to your roots. This podcast series has been developed with financial planning firm Mulberry Bow. Based in London, they offer a highly personalised service to around 150 individuals and families. Robin Powell and Jonathan Hollow are very grateful for their enthusiastic support for "Second Lives". Links to key mentions in this podcast: Transcript: - https://www.evidenceinvestor.com/john-treharne-entrepreneurship/ -- Gym Group - https://www.thegymgroup.com/ — To donate to Jigsaw South East - https://www.jigsawsoutheast.org.uk/get-involved/donate/ — Mulberry Bow financial planners: https://mulberrybow.com/ — How To Fund The Life You Want: http://tinyurl.com/how2fund --

In the fifth of a series of 12 TEBI episodes looking at meaning and money during later careers or second lives, Jonathan Hollow interviews multi-million selling author Héctor García about the lessons we can learn from the longest-living people in Japan. Héctor is the co-author of"Ikigai", a book about a key concept in Japanese wellbeing, which translates to "reason for being" or "purpose in life". Héctor explains his deep insights into Japanese culture and its approach to later life, highlighting how the Japanese transition to different phases of life rather than retiring completely. He discusses stress, acceptance of negative emotions, and the significance of community support among older people in Japan. He suggests that any change from our first life to a new life should be gradual, combined with both self-awareness and perseverance. The interview explores the profound impact of Japanese culture on García's perspective on life and he offers thoughtful and compelling insights for anyone looking for fresh purpose and sustainable happiness. This podcast series has been developed with financial planning firm Mulberry Bow. Based in London, they offer a highly personalised service to around 150 individuals and families. Robin Powell and Jonathan Hollow are very grateful for their enthusiastic support for "Second Lives". Transcript of this episode: https://www.evidenceinvestor.com/ikigai-author-hector-garcia-on-life-lessons-from-japan/ -- Links to key mentions in this podcast: "Ikigai" - https://www.amazon.co.uk/Ikigai-Simple-Secrets-Long-Happy/dp/1529902401 — Héctor's personal website - https://hectorgarcia.org/ — Mulberry Bow financial planners: https://mulberrybow.com/ — How To Fund The Life You Want: http://tinyurl.com/how2fund --

In the fourth of a series of 12 TEBI episodes looking at meaning and money during later careers or second lives, Jonathan Hollow interviews Master of Wine Lisa Granik about her remarkable second life as a world expert on the wines of Georgia, the country in the Caucasus. She reflects on transitioning from law to becoming a wine academic - thanks to her unique skills and background. She shares insights about Georgian wine culture, its historical significance, and economic impact. Lisa addresses challenges she has faced as a woman in the wine industry, and reflects on the changing roles of women in wine. The conversation delves into her deep connections with Georgia and her book "The Wines of Georgia", which explores the culture, history, terroirs, and personalities of Georgian winemaking. And she describes how she has found her way from one stage to another in her life - sometimes taking a sharp turn, sometimes gradually. This podcast series has been developed with financial planning firm Mulberry Bow. Based in London, they offer a highly personalised service to around 150 individuals and families. Robin Powell and Jonathan Hollow are very grateful for their enthusiastic support for "Second Lives". Transcript of this podcast: https://www.evidenceinvestor.com/second-lives-living-the-dream-as-a-master-of-wine/ -- Links to key mentions in this podcast: "The Wines of Georgia" - https://www.amazon.co.uk/wines-Georgia-Infinite-Classic-Library/dp/1913022005/ -- "Granik's Guide to Georgian Wines" - https://www.graniksguide.com/en/ — Mulberry Bow financial planners: https://mulberrybow.com/ — How To Fund The Life You Want: http://tinyurl.com/how2fund -- Picture of Lisa Granik by Giorgi Gegelia, Orkoli Winery

In the third of a series of 12 TEBI episodes looking at meaning and money during later careers or second lives, Jonathan Hollow interviews writer, educator, investor and Chartered Financial Analyst Brian Portnoy. Brian discusses the concept of "funded contentment" as true wealth, contrasting it with the pursuit of "riches". He explores the four universal sources of deep contentment: connection, control, competence, and context. Brian emphasises the importance of addressing our basic needs, and protecting ourselves, before trying to fund more aspirational goals.  This conversation will encourage you to reflect on what is "enough" for you to pursue your own meaningful life. This podcast series has been developed with financial planning firm Mulberry Bow. Based in London, they offer a highly personalised service to around 150 individuals and families. Robin Powell and Jonathan Hollow are very grateful for their enthusiastic support for "Second Lives". Transcript of this episode: https://ow.ly/bFhA50PeVx5 -- Links to key mentions in this podcast: "The Investor's Paradox" https://www.amazon.co.uk/Investors-Paradox-Simplicity-Overwhelming-Choice/dp/113727848X— "The Geometry of Wealth" https://www.amazon.co.uk/Geometry-Wealth-Shape-Money-Meaning/dp/0857196715/-- Shaping Wealth https://www.shapingwealth.com/ -- Mulberry Bow financial planners: https://mulberrybow.com/ -- How To Fund The Life You Want: http://tinyurl.com/how2fund --

In the second of a series of 12 TEBI episodes looking at meaning and money during later careers or second lives, Jonathan Hollow interviews doctoral student (and student ambassador) Alex Davis. She talks about her previous career as a finance director, and how she made a challenging transition, after more than 20 years, from running a family business to becoming an expert on the Roman poet Ovid. She also talks about her part-time work as an outreach ambassador for the University of Kent, which gives her the chance to encourage students of all backgrounds to make the leap from school to university. This podcast series has been developed with financial planning firm Mulberry Bow. Based in London, they offer a highly personalised service to around 150 individuals and families. Robin Powell and Jonathan Hollow are very grateful for their enthusiastic support for "Second Lives". Episode transcript: https://www.evidenceinvestor.com/how-to-follow-your-dreams-in-your-40s/ -- Links to key mentions in this podcast: The University of Kent's Classics and Archaeology Department: https://www.kent.ac.uk/classics-archaeology -- Ovid's poem "Ibis" at Loeb Classics: https://www.loebclassics.com/view/ovid-ibis/1929/pb_LCL232.237.xml?result=6&rskey=LoQH7S -- Mulberry Bow financial planners: https://mulberrybow.com/ -- How To Fund The Life You Want: http://tinyurl.com/how2fund --

In the first of a series of 12 TEBI episodes looking at meaning and money during later careers or second lives, Jonathan Hollow interviews author Andrew Hallam, focusing on his latest book, "Balance". In this lively, in-depth discussion, Andrew talks about the key themes in the book that make up a balanced life: purpose, relationships, health and money. He talks candidly about the life lessons that have brought him to a nomadic but highly fulfilling existence as an author and speaker. He tells us how he manages to maintain meaningful connections with loved ones around the world, and what he has learned about giving and purpose from family members - and even complete strangers. This podcast series has been developed with financial planning firm Mulberry Bow. Based in London, they offer a highly personalised service to around 150 individuals and families. Robin Powell and Jonathan Hollow are very grateful for their enthusiastic support for "Second Lives". Transcript: https://www.evidenceinvestor.com/introducing-second-lives-a-brand-new-podcast-series-from-tebi/ -- Links to key mentions in this podcast: Andrew Hallam's website: https://andrewhallam.com/ -- "Balance" by Andrew Hallam: https://andrewhallam.com/balance/ -- Mulberry Bow financial planners: https://mulberrybow.com/ -- How To Fund The Life You Want: http://tinyurl.com/how2fund --

Robin Powell's guest n this episode we're discussing the bear market with the world-renowned behavioural scientist Meir Statman.   He's the Glenn Klimek Professor of Finance at Santa Clara University.  What happens in the minds of investors when markets fall?  And how can we stop ourselves acting irrationally?  Professor Statman has some fascinating insights on those questions and more.  And, you may be pleased to hear, even he is not immune to feeling anxious when stock prices head south.  He also has some very interesting advice for young people tempted to invest in cryptocurrencies.

Neil Woodford is Britain's best-known fund manager. For many years his track record was very impressive. He was lauded in the media. He was even referred to by the BBC as "the man who can't stop making money."  But then things began to go wrong and, three years ago, the wheels came off in spectacular fashion, when his flagship Equity Income fund was suspended.   The industry, of course, as the industry usually does, did really rather well out of it. Woodford Equity Income was Britain's biggest fund launch. The fund earned a fortune for Woodford himself and for the many brokers and platforms who helped to promote it.  The outcome for investors, however, was rather different. More than 300,000 people — many of them near, or already in, retirement — lost more than £1 billion between them in one of the biggest financial scandals of modern times.  Robin Powell's guests on this episode are two highly respected journalists who have each written a book on the Woodford saga — Owen Walker and David Ricketts.

Investors need to be realistic.. and that means accepting the strong possibility that returns will be lower in the future than they have been in the past. Why? Well, equities rose to all-time highs as the economy recovered from the Covid crisis.   And the higher the price you pay for a security, the lower your expected return going forwards.  So, what other evidence is there that future returns will be lower? And, if it's true, what if anything can, or should, investors do about it?   In the latest episode, Robin Powell talks to Antti Ilmanen, an investment strategist at AQR Capital Management in Greenwich, Connecticut.   He's the author of a new book, Investing Amid Low Expected Returns: Making the Most When Markets Offer the Least.

We live in interesting times. War in Ukraine, energy worries, inflation and a possible global recession. It's no surprise, then, that stock markets around the world have fallen considerably, and there seems to be no end in sight to the current volatility.  We wouldn't be human if "headline anxiety" didn't have an impact on us.  Robin Powell's guest on this episode is Craig Lazzara from S&P Dow Jones Indices. Craig puts recent market volatility into historical perspective.

Spencer Jakab on the real winners in the GameStop saga

Robin Powell's guest on the latest episode of The TEBI Podcast is Robin Wigglesworth, global finance correspondent for the Financial Times. Wigglesworth is the author of Trillions [https://www.penguin.co.uk/books/315/315585/trillions/9780241422052.html], a new book on the past, present and future of index investing. Currently living in Norway, he covers macroeconomics, finance, investing and markets internationally for the FT. In this episode, Wigglesworth declares the active versus passive debate over, with passive the decisive victor. The only question now, he says, is just how dominant passive investing will become.

ARKK falls again, but are we really in a market crash?

We sat down to speak to Will Rainey, who has written a new book called "Grandpa's Fortune Fables", [https://www.bluetreesavings.com/grandpas-fortune-fables] a book aimed at educating children which is full of metaphors, stories and exercises about money.