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Artwork for Many Happy Returns

Many Happy Returns

PensionCraft
Inflation
Federal Reserve
China
Cryptocurrency
Investing
Market Volatility
Interest Rates
Investment Strategies
Stock Market
Gold
UK Stock Market
Bonds
Investment Strategy
Financial Planning
Asset Allocation
Bitcoin
Jerome Powell
Retirement Planning
Tariffs
US Economy

Investing is the best way to build wealth, but comes with risk and uncertainty. Want to grow a portfolio of stocks, bonds, ETFs and more? This is the show to boost your knowledge and build your confidence. Join us on the journey through bull markets, bubbles and crashes. Bring snacks and a steady hand; we're in it for the long haul... Hosted by Ramin Nakisa (YouTube @PensionCraft) and Michael Pugh... more

PublishesWeeklyEpisodes230Founded5 years ago
Number of ListenersCategories
InvestingBusinessEducationSelf-Improvement

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Artwork for Many Happy Returns

Latest Episodes

Your ability to manage money declines steadily after sixty. Yet your confidence in that ability doesn't decline at all, so mistakes get made with total conviction and go unnoticed, especially by you. What you can do now to protect your portfolio befo... more

YouTube

Economists have spent half a century building elegant models of how markets work, and the markets have spent half a century ignoring them. We investigate the great unsolved mysteries of investing.

And in the Dumb Question of the Week: If nobody can ... more

YouTube

Andy Burnham once said Britain had to “get beyond being in hock to the bond market”. That’s easier said than done when gilt yields are 5%, debt interest is running above £100bn a year, and the autumn Budget has no headroom left. Can the UK escape fis... more

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Warren Buffett says “never bet against America”. But plenty of people spent the last eighteen months doing exactly that — betting the dollar would be dethroned and the "Sell America" trade would finally pay off. They're still waiting. We ask whether ... more

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Recent Guests

Tom Stevenson
Investment director at Fidelity
Fidelity
Episode: How the AI Investment Boom Ends, with Tom Stevenson
Damien Jordan
From Damien Talks Money, invited guest on finance content strategy and audience insights
Damien Talks Money
Episode: Damien Talks Money: What Investors Click vs. What They Need
Jasmine Yeo
Fund Manager at Ruffer
Ruffer
Episode: Capital Preservation: The Art of Not Losing Money, with Jasmine Yeo from Ruffer
Katie Martin
Financial Times columnist who writes the Long View column and co-hosts the Unhedge podcast.
Financial Times
Episode: 100 Days Down: Making Sense of Trump's Market Shockwaves, with Katie Martin
Duncan Mavin
Journalist and author of "Meltdown, Scandal, Sleaze and the Collapse of Credit Suisse"
Bloomberg
Episode: Meltdown: Scandal, Sleaze and the Collapse of Credit Suisse, with Duncan Mavin
Simon French
Chief Economist and Head of Research at Investment Bank Panmure Liberum
Panmure Liberum
Episode: Soaring Gilt Yields and Strained Public Finances, with Simon French
George Magnus
Leading expert on China and global economy, research associate at the University of Oxford.
University of Oxford
Episode: Red Flags: China’s Economic Troubles, with George Magnus
Wolfgang Münchau
Co-founder of Eurointelligence and former editor-in-chief of Financial Times Deutschland
Episode: Kaput: The End of the German Miracle, with Wolfgang Münchau
Larry Hatheway
Co-founder of Jackson Hole Economics, experienced economist advising institutional investors and family offices, former chief economist at major investment banks and asset managers.
Episode: Trump 2.0: Political Risk and Complacent Markets, with Economist Larry Hatheway

Hosts

Ramin Nakisa
Co-host of Many Happy Returns
Michael Pugh
Host of Many Happy Returns

Reviews

4.9 out of 5 stars from 1k ratings
  • Run out of ideas

    Was a great podcast - two years ago - but like previous reviewers have said I end up skipping episodes or yawning through them for past few months. Run out of ideas/ steam. The bond market episode was so dull - just a string of little quips about Trump, binface, with no substance. Learnt nothing, wasn’t funny.

    Apple Podcasts
    1
    Podcastlistener9
    United Kingdom16 days ago
  • Weak

    Listened to the recent episode on the housing market. The two presenters spent a long time talking around all the issues and then contradicted themselves completely in the closing minutes. Absolutely dumbstruck that many reviewers believe these two know much about finance.

    Apple Podcasts
    1
    Rosenbaum & Wolf
    United Kingdom3 months ago
  • The best financial podcast for me

    Ramin & Michael deliver their podcast in an informative, chatty and engaging way. What I like most about Many Happy Returns is that the fundamental guidance is a low cost global all share tracker, automated actions such as regular investing. This advice is sound. However, Ramin’s explanations of the macro, sectors, tilts etc is where the entertainment is. I have been listening for many years now.

    Apple Podcasts
    5
    Red_Ian
    United Kingdom4 months ago
  • Just the right thing for the passive ETF investor who is bored and looking for an entertaining podcast to stay up to date on news they should actually completely ignore.

    Podcast Addict
    5
    6 months ago
  • Just the right thing for the passive ETF investor who is bored and looking for an entertaining podcast to stay up to date on news they should actually completely ignore.

    Podcast Addict
    5
    SmallCapBigWig
    6 months ago

Listeners Say

Key themes from listener reviews, highlighting what works and what could be improved about the show.

The show is informative and entertaining, though some episodes are considered heavy on topics; pacing is a common point of feedback.
The hosts balance expertise with engaging banter and clear explanations of complex topics.
Listeners appreciate the global investing perspective and UK bias, with high-quality, practical takeaways.

Chart Rankings

How this podcast ranks in the Apple Podcasts, Spotify and YouTube charts.

Talking Points

Recent interactions between the hosts and their guests.

The Declaration of Outperformance: Is America Still Exceptional?
Q: Is the US the best performing stock market ever?
Generally speaking, the hosts argue that, on most graphs and datasets, the US stock market has been the top performer over long horizons, though they acknowledge debates about periodization and currency adjustments.
Sequence and Sensibility: Is Now a Good Time to Retire?
Q: Is now a good time to retire?
There isn't a single right answer; it depends on market conditions, personal circumstances, and the ability to manage risk. The hosts suggest balancing safety (annuities, gilt ladders) with some exposure to growth, and considering a reverse glide path to de-risk early while keeping some growth potential for later years.
How the AI Investment Boom Ends, with Tom Stevenson
Q: Are there any signs of what could trigger a rapid re-rating or bust, and what would that look like?
Triggers could be unpredictable and might include a technological breakthrough that undermines current bets or macro shocks like inflation or rate hikes; the most likely outcome, according to the guest, is volatility with no single clear catalyst, requiring prudent diversification and risk management.
How the AI Investment Boom Ends, with Tom Stevenson
Q: What should an investor do to position a portfolio for this transition without getting burned by a potential bust?
Emphasize diversification across the theme, identify end-user beneficiaries, consider downstream infrastructure plays, and maintain some value exposure to balance growth risk; avoid concentrating entirely in AI and be mindful of timing risks from possible substitutions or policy changes.
How the AI Investment Boom Ends, with Tom Stevenson
Q: How does this AI boom compare to past cycles and is it more likely to end badly or to broaden into a longer bull market?
Tom Stevenson suggests it has unique characteristics, including real earnings growth and a broad, multi-sector applicability that could sustain a long cycle, though there will be bumps and the period could extend the longest post-war bull markets if demand remains strong and industrial investment continues.

Audience Metrics

Listeners, social reach, demographics and more for this podcast.

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Frequently Asked Questions About Many Happy Returns

What is Many Happy Returns about and what kind of topics does it cover?

A globally oriented investing show that blends accessible education with practical, long-horizon portfolio guidance. Hosts Ramin Nakisa and Michael Pugh discuss macro themes, markets, and personal finance through a two-person dialogue that leans UK-centric yet remains globally relevant. Episodes cover topics like bonds and yields, housing markets, stock valuations, and risk management, often weaving in real-world implications for private investors, advisers, and pension-minded audiences. The format tends to be concise, data-informed, and occasionally lightened by banter, with sponsor integrations that keep the content grounded in practical investing steps. A notable strength is the hosts' ability to translate complex macro and market dynami... more

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Which podcasts are similar to Many Happy Returns?

These podcasts share a similar audience with Many Happy Returns:

1. On The Money
2. AJ Bell Money & Markets
3. Making Money
4. The Meaningful Money Personal Finance Podcast
5. The Money To The Masses Podcast

How many episodes of Many Happy Returns are there?

Many Happy Returns launched 5 years ago and published 230 episodes to date. You can find more information about this podcast including rankings, audience demographics and engagement in our podcast database.

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What guests have appeared on Many Happy Returns?

Recent guests on Many Happy Returns include:

1. Tom Stevenson
2. Damien Jordan
3. Jasmine Yeo
4. Katie Martin
5. Duncan Mavin
6. Simon French
7. George Magnus
8. Wolfgang Münchau

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