Never mind beating the benchmark when the benchmark is quietly making the real decisions. Gerald Ashley and George Cooper pull back the curtain on how index choice shifts risk onto investors, fuels herding, and even distorts the wider economy. From the S&P 500’s ninefold climb to the FTSE’s more modest tripling, they unpack why “go passive” still demands a critical, high stakes decision about which index to follow and which currencies to carry. The conversation digs into the perverse logi...

In this edition George Cooper and Gerald Ashley are joined by Helen Thomas of Blonde Money. Are many governments in the developed world facing a fiscal Mission Impossible? They looked at current financial risks, global fiscal challenges, and central bank independence, focusing on the political implications. The conversation highlighted how political systems and electoral dynamics are shaping economic policies in the post-COVID era, with concerns about rising government debt, market volatility...

In this Equitile Conversations episode, Gerald Ashley and George Cooper, joined by guest Michael Power, discuss the outdated term "emerging markets." They argue it inaccurately describes dynamic economies like China, which lead in technology and growth, while traditional "developed" markets like the US exhibit characteristics once associated with emerging markets, such as fiscal issues and currency volatility. They criticise the reliance on indices and ETFs that oversimplify investment ...

In this episode Gerald Ashley is joined by Nicholas Rogers, an equity analyst at Equitile. They take a look at the three major energy markets of oil, natural gas and coal, which together supply up to 90% of global energy. They discuss the current stability of oil prices despite Middle East tensions, with softening Western demand but strong Asian growth, and the importance particularly of China’s strategic oil reserves via the “Beijing put.” And is Offshore oil’s cost-effectiveness chall...

In this episode of Equitile Conversations, Gerald Ashley and George Cooper discuss the mechanics and challenges of pension systems, focusing on their reliance on current workers and demographic trends. They explain that state pensions, like the UK's, are "pay-as-you-go," funded by taxing current workers rather than a saved pot of money, dispelling the myth of a personal pension fund. Pre-funded pension schemes, where individuals save into assets like equities and bonds, also depend on future ...

Are we experiencing peak dollar as a reserve currency? In this latest episode we examine this complex but crucial question for investors, policymakers, and businesses. With the federal deficit running at a staggering 8.8% of GDP—a level typically associated with major economic crises rather than normal times—we're witnessing what could be a pivotal moment in global finance. The dollar's reserve status has provided America with significant advantages: lower borrowing costs and the privilege of...

Ever wonder why smart people make irrational investment decisions? The answer lies in our psychological wiring. Loss aversion makes parting with losing investments almost physically painful, while confirmation bias ensures we only see evidence supporting our existing views. These forces work together to create a perfect storm of poor financial choices that most investors never recognise. Gerald Ashley and George Cooper take us on a fascinating journey through the minefield of cognitive biases...

Are we heading toward a future underpopulation crisis instead of overpopulation? In this episode, George Cooper and Gerald Ashley explore the far-reaching effects of a global demographic shift already in motion. Fertility rates worldwide are plummeting below the replacement level—South Korea, for instance, is at just 0.7 children per woman, far below the 2.1 needed to sustain a population. This largely overlooked transition, overshadowed by politicians focus on short-term growth, is pushing u...