In this episode, George Ladds is joined by Gervais Williams, veteran fund manager, author, and long-standing advocate for UK equities. Gervais shares his journey from engineering into investment management and reflects on over three decades of navigating market cycles.
We discuss:
Why today’s markets differ from past cycles – and the risks of assuming “buy the dip” always works
The retreat of globalisation, the rise of nationalism, and what this means for investors
Why equity income and cash-generative businesses could define the next 20 years
The overlooked potential of UK small and micro-caps (including AIM)
How active management can help avoid “zombie companies” and uncover future winners
Gervais also reflects on conviction, resilience, and why diversification across industries and company sizes is critical in a more uncertain world.
👉 A thoughtful and candid conversation on building resilient portfolios and rediscovering opportunities in the UK market.
Book: The Retreat of Globalisation
Disclaimer: This conversation is for information only and isn’t investment advice. Past performance is not a guide to future returns. Investing involves risk, including loss of capital.