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PODCAST

A Long Time In Finance

Jonathan Ford and Neil Collins

The long view of finance, markets and money as seen by two veteran City editors, Neil Collins and Jonathan Ford, presented in partnership with The Library of Mistakes. Hosted on Acast. See acast.com/privacy for more information.

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All Episodes

24:14

The Great Private Equity Tax Swindle

A Long Time In Finance ·

2023/10/27

In 1987, the emerging private equity industry successfully lobbied the government to slip them a tax break. It allows private equiteers to take huge bonuses from the appreciationof client funds they invest in buyouts (a wedge called "carried interest"), and pay a preferentiallylow rate of tax on these earnings. Now HMRC may be thinking again. We talk to tax expert Dan Neidle about the origin of this boondoggle and why - as a matter of actual law, let alone fairness - it's never been justified, and

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23:26

As Good As Gold?

A Long Time In Finance ·

2023/10/06

It's more than a decade since an American investor described the UK's gilts market as resting "on a bed of nitroglycerine". But with government bonds facing a plethora of troubles right now, from surging issuance driven both by current deficits and monetary policy, to persistent inflation, it's time to turn again to UK investor and self styled "bond vigilante, Jim Leaviss of M&G to ask if therehasever been a worse time to hold a gilt.Presented by Neil Collins, with the somewhat tardy

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22:59

Shortspiracy: The Apes v Wall Street

A Long Time In Finance ·

2023/09/29

The recently released film, Dumb Money, recounts the tumultuous events of 2021 when a group of internet-enabled sans culottes took on Wall Street's finest in a battle over the future of Gamestop,an obscure electronicgames retailer. But was it a financial revolution or anamusing (if tech enabled) throwback to thegreat stock market corners of the past? Neil and Jonathan talk to financial guru Izabella Kaminska about the Gamestop affair, its cultural and historic roots, and whether "flashmob" investing

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24:51

The Trussquake - One Year Later

A Long Time In Finance ·

2023/09/22

Liz Truss is the Lady Jane Grey of British politics, lasting just 49 days as PM before swirling economic chaos swept her from office. But a year on, has Britain dusted itself off and rebuilt - or are we still picking through the ruins? Neil and Jonathan talk to economic historian Duncan Weldon about Truss's economic and political legacy, Sunak's problems and the still unanswered question of how to get more economic growth.Presented by Jonathan Ford and Neil Collins.With Duncan Weldon.Produced and

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22:36

Nutrient Neutrality

A Long Time In Finance ·

2023/09/15

The government is embroiled in a row about environmental protection. Should it apply pollution rules inherited from the EU in the way its own environmental advisers interpret them, or should it change therules to help housebuilders construct more homes? Neil and Jonathan discuss the trade-offs with Robert Colvile, a self confessed housing nut who is director of the Centre for Policy Studies.Presented by Jonathan Ford and Neil Collins.With Robert Colville.Produced and edited by Nick Hilton for

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35:10

The Nine Lives of Credit Suisse: Part Two

A Long Time In Finance ·

2023/09/08

In the concluding episode of our two part series, Jonathan and Neil look back on the dramatic events of March in the company of Josef Ackermann, who ran the Swiss bank in the 1990s,financial historian Philip Augar and banking analyst Frances Coppola. They consider themacro background to the bank's collapse, and ask whether things could have turned out differently or whether excessiverisk taking was just baked into Credit Suisse's DNA.Presented by Jonathan Ford and Neil Collins.Produced and edited by

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45:34

The Nine Lives of Credit Suisse: Part One

A Long Time In Finance ·

2023/09/01

In March 2023 the unthinkable happened: Credit Suisse, that giant of Swiss banking, collapsed. Like the proverbial cat, it had run through its nine lives. From the Chiasso saga to unprecedented corporate fines, via troubled times on Wall Street, Credit Suisse had always lived dangerously. And finally, in 2023, the financial winds caught up with them. In this first part of a two-part special of A Long Time in Finance, Jonathan Ford and Neil Collins are joined by experts Josef Ackermann, former

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24:43

Renewables: Bad for Your Wealth?

A Long Time In Finance ·

2023/08/25

With net zero targets in mind, countries like the UK haveambitious targets for renewable energy. But do these make any sense? None at all, according to Doomberg, the US energy analyst. In conversation with Neil andJonathan, he explains why he's deeply bearish about wind power, why renewables make no sense at all in Western Europe, and how there's a direct link between risingwind and solarusage and declining standards of living.Presented by Jonathan Ford and Neil Collins.With Doomberg.Produced and

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24:21

Car Trouble

A Long Time In Finance ·

2023/08/18

Thecarin front? These days it's likely tobe aTesla - or Chinese. Britain'scarindustry built just 775,000 motors last year, the lowestfiguresince 1956. Dwindling investment means we increasingly lack the wherewithal to take part in the unfolding electric revolution. Amid a picture of unremitting gloom, Neil and Jonathan talk to Peter Wells, Director of the Centre for Automotive Industry Research at Cardiff Universityabout the scale of the problem and what can be done.Presented by Jonathan Ford and

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25:56

The Practicalities of Net Zero

A Long Time In Finance ·

2023/08/11

Since 2019, Britain has put itself under a legal obligation to decarbonise its economy by 2050. But do people have any idea what thatmeans, how practical it is and how much it might cost? To get an idea, Neil and Jonathan talked to Richard Halsey, innovation director at the Energy Supply Catapult about how the country is faring on its great decarbonisation crusade.Presented by Jonathan Ford and Neil Collins.With Richard Halsey.Produced and edited by Nick Hilton for Podot.In association with

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24:44

Rolling the Dice on British Pensions

A Long Time In Finance ·

2023/07/14

Jeremy Hunt says that by taking more risk, UK pension funds can make their members £1,000 a year better off. Sounds interesting,but isit really plausible? And should the government even try to interfere in pension markets? Neil and Jonathan talk to pensions expert John Ralfe about what he reallysaid and didn't say,whether the proposals will make much difference,and what reforms might actually make sense..Presented by Jonathan Ford and Neil Collins.With John Ralfe.Produced and edited by Nick Hilton

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23:47

Not Waving But Drowning (in Debt)

A Long Time In Finance ·

2023/07/07

"You could be an H20 Owner." That was the slogan when thewatercompanies were sold off in 1989. But while we glugged theshare sale down, thepublic didn't stay owners for long, and most of the companies were later flushed into the hands of international private equity firms. All we own now is the financial and ecological mess they left behind - one that's looming ever larger in the case of ThamesWater. Neil and Jonathan talk to Jonathan Portes, economist and (in his youth) a Treasury civil servant who

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20:13

Power to the People!

A Long Time In Finance ·

2023/06/30

Energy policy has been one of Britain's great political failures over the past two decades. World leaders in climate pledges, we've failed to create the means to deliver them. And we barely build any green kit. This week's guest, energy expert Nick Butler has an idea for a fresh start. Create a state owned company to drive and fund investments in energy technologies with the aim of promoting green manufacturing in the UK. It sounds bold, but will it work? Jonathan and Neil investigate..Presented by

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24:17

Oh, Who Will Buy My Lovely Houses?

A Long Time In Finance ·

2023/06/23

With mortgage rates rising ever higher, it's becoming clear the UK is facing a serious housing correction. But how bad will it be, and on whom will the blow fall hardest? Neil and Jonathan talk to Neal Hudson, housing expert at BuiltSpace, aboutpast crises in the 1970s, 1980s and 1990s, how this one might compare, and what we might do to soften the blow.Presented by Jonathan Ford and Neil Collins.With Neal Hudson.Produced and edited by Nick Hilton for Podot.In association with Briefcase.News Hosted

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27:15

Is Going Vertical the Future of Farming?

A Long Time In Finance ·

2023/06/16

Vertical farming has been hailed as the future of agriculture. More sustainable, needing fewer resources such as land and labour, and the capacity to grow crops all year round.So how far can it go and why have so many recently built vertical farms got into financial difficulty? Neil and Jonathan talk to Marcus Whately, chief executive of Grow Up Farms, about the challenges and whether vertical growing can really put a salad in every bowl.Presented by Jonathan Ford and Neil Collins.With Marcus

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25:40

China and the West: A Case of Conscious Uncoupling?

A Long Time In Finance ·

2023/06/09

The hawks call it decoupling; the more dovish derisking. But it all means the same thing: imposing trade barriers between China and the West. Neil and Jonathan talk to China expert George Magnus about China's 2001 WTO accession, why the West's gamble on trade and democratisation failed, and also whether you can unscramble the trade relationship.Presented by Jonathan Ford and Neil Collins.With George Magnus.Produced and edited by Nick Hilton for Podot.In association with Briefcase.News Hosted on

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21:05

Is the Sun Rising on Japan?

A Long Time In Finance ·

2023/06/02

After several snoozeworthydecades in which its stock market and economy went nowhere, Japanese shares are testing highs they haven't seen since 1990, just as the country's great asset bubble was declining. There have been plenty of false dawns in the past,but this time, as Japan expert and value investor Alex Kinmont told Neil and Jonathan, it really might be different.Presented by Jonathan Ford and Neil Collins.With Alex Kinmont.Produced and edited by Nick Hilton for Podot.In association with

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24:33

Investment Made Simple (But Not Easy)

A Long Time In Finance ·

2023/05/19

With the outlook for shares cloudier than at any time since the 1970s, it is hard to know whether to be greedy or fearful. In search of enlightenment on this point, Neil andJonathantalk to veteran investor and author Richard Oldfield about all things investment. These include active fund managers, how to judge them and whether they are worth the money,as well as high fees, ESG and whether the UK is the new Japan.Presented by Jonathan Ford and Neil Collins.With Richard Oldfield.Produced and edited by

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25:11

"Hosepipes No; Dividends Yes!"

A Long Time In Finance ·

2023/05/12

England's water utilities have been under fire for leaks and discharging sewage into the rivers,something we are told theydon't have the cash for. So why are they paying out huge dividends, which almost tripled last year to £1.4bn? Neil and Jonathan are joined by David Hall, visiting professor at Greenwich university, to peer into the murky world of utility financialflows.Trigger warning: John Stuart Mill, private monopolies and nationalisation are all discussed.Presented by Jonathan Ford and Neil

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24:20

Man United and the Football South Sea Bubble

A Long Time In Finance ·

2023/05/05

The famous football club's owners, the Glazers, haveput it up for sale for $7bn - or 10 times revenues. But instead of laughing out loud, severalbuyers are circling. With valuations at fever pitch. Neil (a Tranmere Rovers obsessive) and Jonathan talk to Kieran Maguire, football finance academic, about whether England's Premier League can sustain this sort of madness.Presented by Jonathan Ford and Neil Collins.With Kieran Maguire.Produced and edited by Nick Hilton for Podot.In association with

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127 results

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