US Banks, Terry Smith & the FCA!

Playing FTSE

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► Episode Notes:

How far is Cumbernauld from Hull City Centre? Find out on this week’s PlayingFTSE Show! There’s lots to talk about on this week’s show. Steve and Steve have had a good week in the markets and are dying to talk about it. It’s no secret that the London Stock Exchange has been struggling to attract listings lately with the likes of Arm, TUI, and Flutter looking elsewhere. But the FCA has some ideas for how to change this. A raft of measures have been announced including removing market cap restrictions and relaxing profitability requirements, but will any of them work? Steve and Steve have some ideas. Earnings season in the US has kicked off and – as usual – Steve W has been looking at the banking sector. Wells Fargo, Citigroup, and J.P. Morgan have all reported earnings with more to come. Despite beats almost across the board, the stocks are all down. But is a rise in investment banking revenue something for shareholders to get excited about over the next few months and years? Terry Smith has been catching investors up on the progress of Fundsmith’s results. The UK’s Warren Buffett has been underperforming the S&P 500 – but he has a good reason. Not owning Nvidia has led a lot of investors to miss out on some spectacular returns. But Steve D is doubtful that this is the only reason for the fund’s underperformance over the last year. A.J. Barr is a stock we haven’t spoken about on the podcast before – at least, not in any depth. But Steve W thinks it might be an interesting opportunity at the moment. As the company embarks on its ‘margin rebuild’ programme after a 2022 acquisition, earnings are set to rise. Could that – plus some multiple expansion – generate a 30% return by the end of 2026? Only on this week’s PlayingFTSE Podcast!

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► Timestamps:

0:00 INTRO & OUR WEEKS

10:25 FCA CHANGES

23:48 US BANKS

38:01 TERRY SMITH UNDERPERFORMS

50:36 AG BARR

► Show Notes:

What’s been going on in the financial world and why should anyone care? Find out as we dive into the latest news and try to figure out what any of it means. We talk about stocks, markets, politics, and loads of other things in a way that’s accessible, light-hearted and (we hope) entertaining. For the people who know nothing, by the people who know even less. Enjoy

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