The Art of Investing

🏆 Vote for The Art of Investing in the Good Money Guide Awards!Last year we won Best Financial Podcast and Best Financial Analysis – and we'd love your support again. Please vote for us as Best Financial Podcast and Best YouTube Content Creator here:  https://goodmoneyguide.com/awards/finfluencer-awards/ 🎙️The Long and Short 🎙️Can't wait until Friday? Rich McDonald and Piers Buckworth host The Long and Short every single Wednesday - 45 minutes on single stocks and the tech sector. 📈 Download the full Portfolio Performance SlidesView the portfolio breakdown here📧 Get in touch: [email protected]📱 Behind the scenes: @_theartofinvesting on TikTok🎧 Listen on: Apple, Spotify, YouTube 📖Subscribe to JP’s substack here This week on The Art of Investing, you're joining us live in the middle of a Nasdaq crash, with 150 years of investing experience around the table to make sense of it.Rich McDonald (live from Rome), Mark 'Spice' Holden and Chris 'CJ' Fellingham are joined by emerging markets specialist JP Smith to unpack the US midterms, a 13% fall in oil and a Bank of England rate rise.Then JP explains why Chinese equities are a policy tool rather than a profit machine, why Korea and Taiwan don't belong in the emerging markets index, and why big tech's spending should worry investors.And finally, with 25% sitting in cash and short gilts, the team ask: is it time to buy the dip?This Week's Highlights:📉 The Nasdaq Crash, LiveChips and AI lead the sell-off, with Intel down 40% on the week and Micron down 15% in a day.🗳️ The Midterms: A Blue WashWhat Democrat gains could mean for data centres, defence, energy, and Voldemort.🛢️ Oil TumblesBrent falls 13% on the week as the US and Iran signal they're ready to talk.🇬🇧 The Bank of England Raises RatesA 0.25% rise on an 8–1 vote, but CJ would have gone for 0.5%.🌏 JP on China and Emerging MarketsWhy China has become a leveraged play on AI, and why the emerging markets index is dominated by Korea and Taiwan.⚠️ Leverage, Private Credit and the Momentum TradeCJ isn't worried about the fundamentals, he's worried about who still has to sell.Portfolio Snapshot – Week 64:📊 Weekly portfolio performance: -1.1%📈 Total return since inception: +22.4%📅 2026 year-to-date return: +9.9%Top Performers:📈 Invesco Stoxx Euro 600 UCITS ETF GBP: +1.7%📈 iShares Russell 2000 ETF: +1.4%📈 Vanguard FTSE 250: +1.3%Underperformers:📉 Invesco EQQQ Nasdaq 100 UCITS ETF: -5.2%📉 WisdomTree Copper ETF: -5.1%📉 iShares Nikkei 225 ETF: -3.8%Portfolio Changes:📈 Buy 2.5% Invesco EQQQ Nasdaq 100 UCITS ETF (5% → 7.5%)💷 Cash falls from 22.5% to 20%Rich and Spice wanted to put up to 8% back to work, but the chairman dips a toe in and keeps some powder dry.Big Questions This Week:- What do the midterms mean for the AI data centre build-out?- Is the Nasdaq sell-off a shakeout or the start of something bigger?- How much hidden leverage is in the system?- Should Korea and Taiwan still count as emerging markets?- Is it time to buy the dip?What You'll Learn:✔️ The difference between a correction and a crash✔️ Why capex vs depreciation matters for tech valuations✔️ How leverage and private credit can deepen a sell-off✔️ How the S&P 500 has performed after past midterms✔️ Why investing incrementally makes sense in volatile marketsDisclaimer:This podcast is provided for educational and informational purposes only. The content presented is not intended as personal investment advice or a recommendation to buy, sell, or hold any particular securities or investments. All discussions regarding the model portfolio are illustrative and for educational purposes.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.

🇮🇹 The Art of Investing Heads to RomeRich is off to FX World in Rome, where he'll be joining panel discussions representing The Art of Investing. Wish him luck in the comments!🎙️The Long and Short 🎙️Can't wait until Friday? Rich McDonald and Piers Buckworth host The Long and Short every single Wednesday - 45 minutes on single stocks and the tech sector.📈 Download the full Portfolio Performance SlidesView the portfolio breakdown here📧 Get in touch: [email protected]📱 Behind the scenes: @_theartofinvesting on TikTok🎧 Listen on: Apple, Spotify, YouTube This week on The Art of Investing, the gents are suited and booted, just in time for the first big disappointment from a hyperscaler.Rich McDonald, Mark 'Spice' Holden and Chris 'CJ' Fellingham unpack Google's cash burn, strong numbers from Microsoft and SK Hynix, and a market crash in Brazil.Then CJ delivers his verdict on the "breathing room" Budget - 99 pages of changes for a net £7bn and 4p off gherkins - and what it means for gilts, banks and housebuilders.And finally, the team pick apart the Fed's hawkish hold, ask whether the Fed put is back and weigh up a wave of AI-driven job cuts.This Week's Highlights:🔍 Google Wobbles as the Hyperscalers Raise BillionsGoogle posts negative cash flow, while Meta, OpenAI and SpaceX raise vast sums of new capital.🇧🇷 Brazil's Market CrashesThe Bovespa falls 14% in a day after Lula is voted back in as president.🇬🇧 The "Breathing Room" BudgetCJ calls it the "rearranging the deckchairs on the Titanic" Budget, and explains why gilt investors should take no comfort.🏦 Banks, Housebuilders and GamblingSpice runs through the Budget's winners and losers.🇺🇸 The Fed's Hawkish HoldWhy the team still expect a US rate rise in December, and whether the Fed put is back.💼 AI and the Jobs CullMicrosoft, HSBC, Barclays and even the Dutch government announce major AI-driven job cuts.Portfolio Snapshot – Week 63:📊 Weekly portfolio performance: +0.1%📈 Total return since inception: +23.5%📅 2026 year-to-date return: +10.9%Top Performers:📈 WisdomTree Copper ETF: +2.1%📈 iShares Russell 2000 ETF: +1.5%📈 Vanguard FTSE 250: +1.0%Underperformers:📉 iShares Physical Gold ETC: -1.8%📉 iShares Core FTSE 100 ETF: -0.6%📉 iShares Nikkei 225 ETF: -0.2%Portfolio Changes:No portfolio changes this week.After two weeks of repositioning, the team are happy to wait until after the US midterms before making their next move.Big Questions This Week:- Are the cracks starting to show in the hyperscalers?- Did the Budget do enough to calm the gilt market?- Why is the government selling fewer long-dated gilts?- Is the Fed put back?- Will AI job cuts keep interest rates lower than expected?What You'll Learn:✔️ What a Budget scorecard reveals✔️ How gilt issuance can affect mortgage rates✔️ What a "hawkish hold" means✔️ What the Fed put is and why it matters✔️ How equity dilution affects shareholdersDisclaimer:This podcast is provided for educational and informational purposes only. The content presented is not intended as personal investment advice or a recommendation to buy, sell, or hold any particular securities or investments. All discussions regarding the model portfolio are illustrative and for educational purposes.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.

🎟️WIN 2x TICKETS TO THE LONDON INVESTOR SHOW. IG are giving away 2 tickets to one of the best Retail Investing events of the year. The London Investor Show takes places on Friday 30th October at Leonardo Royal Hotel, London. For your chance to win, leave the comment "LONDON INVESTOR SHOW" on the episode, we'll reply to the winning comment by Monday 26th October. More information here🎙️ New Podcast! The Long and Short 🎙️Can't wait until Friday? Rich McDonald and Piers Buckworth host The Long and Short, a new podcast releasing every single Wednesday covering single stocks and the tech sector – from Nvidia, Meta, Microsoft and Micron to SpaceX. 📈 Download the full Portfolio Performance SlidesView the portfolio breakdown here📧 Get in touch: [email protected]📱 Behind the scenes: @_theartofinvesting on TikTok🎧 Listen on: Apple, Spotify, YouTube This week on The Art of Investing, Spice goes digging in the portfolio's worst performer of its second year, and the chairman finally gets off the fence.Fresh from being crowned Best Economist Creator at the FinFluencer Awards, Rich McDonald, Mark 'Spice' Holden and Chris 'CJ' Fellingham start with oil, where Spice's gut says a US move on Iran's Kharg Island could be close.Then it's a packed week of results, from a blockbuster SpaceX to disappointing miners, plus Rich's warning on the 3x leveraged ETPs retail investors are piling into.Spice reports back from a Bloomberg commodities conference on copper and the miners, and finally, with the portfolio down 2.6% in its second year, the chairman makes his move, trimming risk and raising cash to 22.5%.This Week's Highlights:🛢️ Oil, Kharg Island and the US MidtermsWhy Spice is braced for escalation in the Middle East.🚀 Earnings Season: SpaceX Soars, Netflix StumblesSpaceX and Tesla impress, while Netflix, BHP and Anglo American disappoint.⚠️ The Danger of 3x Leveraged ETPsWhy one 3x chip product fell 33% in a single week.⛏️ Copper vs Aluminium: Inside the Mining SectorData centre demand, tight supply and why the miners may offer better value than the metal.🇬🇧 Budget, Inflation and Rate RisesUK inflation hits 3.5% ahead of next week's Budget and the Bank of England's 5th November meeting.🛡️ Bull Market or Wall of Worry?CJ makes the bull case, then battens down the hatches.Portfolio Snapshot – Week 62:📊 Weekly portfolio performance: -1.2%📈 Total return since inception: +23.2%📅 2026 year-to-date return: +10.7%Top Performers:📈 iShares Russell 2000 ETF: +1.5%📈 iShares Core FTSE 100 ETF: +0.2%📈 Vanguard FTSE 250: +0.1%Underperformers:📉 iShares Nikkei 225 ETF: -4.9%📉 WisdomTree Copper ETF: -3.4%📉 iShares Core MSCI EM IMI ETC: -3.2%Portfolio Changes:📉 Sell 2.5% iShares Core MSCI EM IMI ETC (10% → 7.5%)📈 Buy 2.5% BlackRock World Mining Trust PLC (5% → 7.5%)📉 Sell 2.5% iShares Russell 2000 ETF (7.5% → 5%)📉 Sell 2.5% iShares Nikkei 225 ETF (10% → 7.5%)💷 Cash increases from 17.5% to 22.5%Equities fall to 57.5%, with 25% now held in cash and short-dated gilts.Big Questions This Week:- Is the US preparing to move on Kharg Island?- Are leveraged ETPs a mug's game?- Is copper's bull story already in the price?- Is the market climbing a wall of worry?- Is it time for the portfolio to get more defensive?What You'll Learn:✔️ How 3x leveraged ETPs work, and how they can go wrong✔️ Why copper supply is struggling to keep up with demand✔️ The difference between investing in a commodity and its miners✔️ How the team think about cash and defensive positioningDisclaimer:This podcast is provided for educational and informational purposes only. The content presented is not intended as personal investment advice or a recommendation to buy, sell, or hold any particular securities or investments. All discussions regarding the model portfolio are illustrative and for educational purposes.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.

📈 Download the full Portfolio Performance SlidesView the portfolio breakdown here: https://drive.google.com/file/d/1WLmVLzxUZLPAXkRujUokqZMfWR7spwkC/view?usp=sharing📧 Get in touch: [email protected]📱 Behind the scenes: @_theartofinvesting on TikTok🎧 Listen on:  Apple, Spotify, YouTube Fresh from their first live show at Lord’s, Rich McDonald, Mark ‘Spice’ Holden and Chris ‘CJ’ Fellingham return to a bruising week for markets. Chip stocks have sold off sharply, Korea has slipped into a bear market, and the portfolio has had a tough week.First up, Spice runs through the market update. It covers a higher oil price after Houthi attacks on Saudi refineries, a sharp sell-off in semiconductors and the start of earnings season. PepsiCo and Delta were both caught out by rising costs, while the big US banks impressed.Then the team turn to CoreWeave, where soaring credit default swaps sparked a wobble across the AI trade. CJ explains what a credit default swap actually is, and why markets are now asking serious questions about the debt behind the AI build-out.The team also tackle hot US inflation data and gloomy consumer sentiment, which have sent the odds of a Fed rate rise soaring. Is stagflation back on the table?And finally, CJ makes the case that this bull market may have overstayed its welcome, while Spice argues why smaller and mid-sized companies could be the real winners from AI. Plus, the team reveal what the audience survey at Lord’s told them about how listeners are invested, and why so few are holding bonds. This Week’s Highlights:🤖 CoreWeave: Is the AI Debt Party Over? CJ explains credit default swaps and why surging borrowing costs at CoreWeave rattled the whole AI trade. 💻 Chips, Korea and a Brutal Week for Tech Spice unpacks the semiconductor sell-off, a Chinese memory chip breakthrough and Korea’s slide into a bear market. 🇺🇸 Stagflation: The Worst of Both Worlds? Hot inflation and weak consumer confidence push up the odds of a Fed rate rise. CJ explains why stagflation is so hard to escape. 🐻 Has the Bull Market Overstayed Its Welcome? From magazine covers to market breadth and concentration, CJ lays out the warning signs, and Spice makes the case for the optimists. 🇬🇧 The UK: A Beacon of Stability The FTSE 100 and FTSE 250 lead the portfolio as money rotates out of AI and into more defensive names. 💰 Lessons from Lord’s What the live audience survey revealed about investors’ portfolios, and why bonds may deserve a second look.Portfolio Snapshot – Week 61: 📊 Weekly portfolio performance: -1.1% 📈 Total return since inception: +24.5% 📅 2026 year-to-date return: +11.9%Top Performers: 📈 iShares Core FTSE 100 ETF: +2.2% 📈 Vanguard FTSE 250: +1.0% 📈 WisdomTree Copper ETF: +0.8%Underperformers: 📉 iShares Core MSCI EM IMI ETC: -5.0% 📉 iShares Russell 2000 ETF: -3.9% 📉 iShares Nikkei 225 ETF: -3.7% 📉 BlackRock World Mining Trust PLC: -3.6%Disclaimer: This podcast is provided for educational and informational purposes only. The content presented is not intended as personal investment advice or a recommendation to buy, sell, or hold any particular securities or investments. All discussions regarding the model portfolio are illustrative and for educational purposes.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.

🏆 Vote for The Art of Investing in the FinFluencer Awards!The Art of Investing has been nominated in the Best Economist Influencer category at the FinFluencer Awards.With voting coming to a close, this is your last chance to support the show!Vote here: https://www.finfluencer.digital/awards/uk/vote🏏 The Art of Investing LIVE at Lord’s Cricket GroundIf you’ve registered to join us at Lord’s on 13th October, please check your inbox and confirm your attendance so we can finalise numbers for the evening. If you signed up but haven’t received an email, please get in touch with the team.📈 Download the full Portfolio Performance SlidesView the portfolio breakdown here📧 Get in touch: [email protected]📱 Behind the scenes: @_theartofinvesting on TikTok🎧 Listen on:  Apple, Spotify, YouTube This week on The Art of Investing, it’s a special episode dedicated to your questions.With the team preparing for their first live show at Lord’s Cricket Ground, Rich McDonald, Mark 'Spice' Holden and Chris 'CJ' Fellingham turn their attention to some of the biggest investing questions sent in by listeners.First up, CJ takes us to France, where political uncertainty and rising borrowing costs are putting pressure on European bond markets. Could the European Central Bank eventually be forced to intervene, and what does it all mean for European equities?Then it’s over to Spice for a deep dive into Nike. After another profit warning, the team explain trough earnings, price-to-earnings ratios and the difficult art of spotting a corporate turnaround. They also explore the opposite problem: what happens when investors are paying for earnings that might already be at their peak?The team also tackle a question about individual UK gilts versus gilt ETFs, exploring the differences in maturity, price movements, transaction costs and tax treatment.And finally, the team lift the lid on the model portfolio, explaining how its weightings work, why they don’t automatically rebalance every position and how the performance figures are calculated.This Week’s Highlights:🇫🇷 Is France Becoming Europe’s Biggest Bond Market Problem?CJ explores France’s debt troubles, rising bond yields and whether the ECB might need to intervene.👟 Nike: Is the Worst Finally Over?After another profit warning, Spice explains trough earnings, potential turnarounds and why value investing is harder than it looks.📊 Trough Earnings vs Peak EarningsWhy might a stock trading on 25 times earnings be cheaper than one on seven times? The team examine P/E ratios, AI stocks and the risks of peak profits.💰 Individual Gilts vs Bond ETFsCJ explains the differences in maturity, costs and tax treatment when investing in UK government bonds.📈 Record Highs, Rising Yields and Weak Jobs DataUS equities continue climbing despite higher borrowing costs and a slowing jobs market. Meanwhile, Japan and emerging markets lead the portfolio.Portfolio Snapshot – Week 60:📊 Weekly portfolio performance: +0.6%📈 Total return since inception: +25.5%📅 2026 year-to-date return: +13.0%Top Performers:📈 iShares Nikkei 225 ETF: +3.5%📈 iShares Core MSCI EM IMI ETC: +3.1%📈 Invesco EQQQ Nasdaq 100 UCITS ETF: +1.7%Underperformers:📉 BlackRock World Mining Trust PLC: -1.9%📉 Vanguard FTSE 250: -1.8%📉 Invesco Stoxx Euro 600 UCITS ETF GBP: -1.1%📉 iShares Core FTSE 100 ETF: -1.0%Portfolio Changes:No portfolio changes this week.The team maintains its 13 holdings, including 17.5% cash, 5% Nasdaq and 2.5% gold.CJ also explains how the educational model portfolio tracks target weightings and why it doesn’t automatically adjust for market movements or dividends.Big Questions This Week:Is France becoming Europe’s biggest bond market risk?Can US stocks keep rising despite higher borrowing costs?Should investors choose individual gilts or gilt ETFs?Is Nike approaching trough earnings?Are AI stocks heading towards peak earnings?How does the model portfolio actually work?What You’ll Learn:✔️ Why France’s debt troubles matter for investors✔️ The differences between individual gilts and gilt ETFs✔️ How to recognise trough and peak earnings✔️ Why P/E ratios can be misleading✔️ How growth and value investors approach struggling stocks✔️ How the team calculates model portfolio performanceDisclaimer:This podcast is provided for educational and informational purposes only. The content presented is not intended as personal investment advice or a recommendation to buy, sell, or hold any particular securities or investments. All discussions regarding the model portfolio are illustrative and for educational purposes.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.