Stuart Kirk

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class="sub-header__image--author" src=https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fuploaded-files%2FByline_Stuart-Kirk-67d70785-504d-407a-803f-8efd9e968a4d.png?source=next-stream-page&width=200&height=200&quality=highest> </div> <div class="sub-header__description">Stuart Kirk writes about investing for FT Weekend. He held roles in banking, asset management and consulting over a 20-year career, and ran the Lex Column in a previous incarnation at the FT. </div> </div> </div> </div> </div> <div role="main" id="site-content" data-concept-id="7664bf87-5cbd-41a7-89f4-61914c45c3d7"> <div class="o-grid-container"> <div class="o-grid-row"> <div class="js-track-scroll-event" id="stream" data-o-grid-colspan="12 L8" > <div data-trackable="stream" class="o-teaser-collection o-teaser-collection--stream"> <ul class="o-teaser-collection__list js-stream-list" data-stream-list aria-busy="false"> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-04-04T10:20:01.611Z">Friday, 4 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="8da9067a-36c3-4648-9f5f-d81214794c87" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="8da9067a-36c3-4648-9f5f-d81214794c87"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">Skin in the Game</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/insight-comment" aria-label="Category: Insight & Comment">Insight & Comment</a></div><div class="o-teaser__heading"><a href="/content/8da9067a-36c3-4648-9f5f-d81214794c87" data-trackable="heading-link" class="js-teaser-heading-link">Sir Keir will love me, I’m doubling down on UK equities</a></div><p class="o-teaser__standfirst"><a href="/content/8da9067a-36c3-4648-9f5f-d81214794c87" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">It’s finally time to add small-caps to my FTSE 100 exposure </a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="8da9067a-36c3-4648-9f5f-d81214794c87" data-myft-ui="saved" action="/myft/save/8da9067a-36c3-4648-9f5f-d81214794c87" data-js-action="/__myft/api/core/saved/content/8da9067a-36c3-4648-9f5f-d81214794c87?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Sir Keir will love me, I’m doubling down on UK equities to myFT for later" aria-label="Save Sir Keir will love me, I’m doubling down on UK equities to myFT for later" data-alternate-label="Sir Keir will love me, I’m doubling down on UK equities is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="8da9067a-36c3-4648-9f5f-d81214794c87" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/8da9067a-36c3-4648-9f5f-d81214794c87" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2375%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F45d49270-9478-4cd0-afab-624f30b85070.jpg?source=next&fit=scale-down&dpr=2&width=240" alt=""/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-04-01T04:00:00.000Z">Tuesday, 1 April, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="7af3cd76-3ffa-4ab9-b337-b5f504fe00f3" data-stream-item> <div class="o-teaser o-teaser--audio o-teaser--small o-teaser--has-image js-teaser" data-id="7af3cd76-3ffa-4ab9-b337-b5f504fe00f3"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/money-clinic-with-claer-barrett" aria-label="Category: Money Clinic with Claer Barrett podcast">Money Clinic with Claer Barrett podcast</a><span class="o-teaser__tag-suffix">35 min listen</span></div><div class="o-teaser__heading"><a href="/content/7af3cd76-3ffa-4ab9-b337-b5f504fe00f3" data-trackable="heading-link" class="js-teaser-heading-link" aria-label="Listen to podcast Investment Clinic: Should I keep betting on Warren Buffett?">Investment Clinic: Should I keep betting on Warren Buffett?</a></div><p class="o-teaser__standfirst"><a href="/content/7af3cd76-3ffa-4ab9-b337-b5f504fe00f3" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Margo’s done well following the famous investor’s lead, but it may be time to diversify</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="7af3cd76-3ffa-4ab9-b337-b5f504fe00f3" data-myft-ui="saved" action="/myft/save/7af3cd76-3ffa-4ab9-b337-b5f504fe00f3" data-js-action="/__myft/api/core/saved/content/7af3cd76-3ffa-4ab9-b337-b5f504fe00f3?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Investment Clinic: Should I keep betting on Warren Buffett? to myFT for later" aria-label="Save Investment Clinic: Should I keep betting on Warren Buffett? to myFT for later" data-alternate-label="Investment Clinic: Should I keep betting on Warren Buffett? is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="7af3cd76-3ffa-4ab9-b337-b5f504fe00f3" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/7af3cd76-3ffa-4ab9-b337-b5f504fe00f3" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2500%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fuploaded-files%2FMONEY%2520CLINIC_FT%2520App-Master%2520size_NEW%2520SYSTEM-2c62d6b4-0e1c-45f7-a7d2-6623b07f8440.jpeg?source=next&fit=scale-down&dpr=2&width=240" alt=""/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-03-28T05:00:38.303Z">Friday, 28 March, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="796233e3-7811-48ea-ba40-79ff4707c400" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="796233e3-7811-48ea-ba40-79ff4707c400"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">Skin in the Game</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/insight-comment" aria-label="Category: Insight & Comment">Insight & Comment</a></div><div class="o-teaser__heading"><a href="/content/796233e3-7811-48ea-ba40-79ff4707c400" data-trackable="heading-link" class="js-teaser-heading-link">Why I want US shares to leap like Nureyev once more</a></div><p class="o-teaser__standfirst"><a href="/content/796233e3-7811-48ea-ba40-79ff4707c400" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Other stock markets are outperforming, but I’m eyeing a chance to sell</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="796233e3-7811-48ea-ba40-79ff4707c400" data-myft-ui="saved" action="/myft/save/796233e3-7811-48ea-ba40-79ff4707c400" data-js-action="/__myft/api/core/saved/content/796233e3-7811-48ea-ba40-79ff4707c400?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Why I want US shares to leap like Nureyev once more to myFT for later" aria-label="Save Why I want US shares to leap like Nureyev once more to myFT for later" data-alternate-label="Why I want US shares to leap like Nureyev once more is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="796233e3-7811-48ea-ba40-79ff4707c400" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/796233e3-7811-48ea-ba40-79ff4707c400" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2375%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F689ece4d-610c-4ef8-a30f-5fb28c4b3478.jpg?source=next&fit=scale-down&dpr=2&width=240" alt=""/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-03-21T18:00:49.526Z">Friday, 21 March, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="9b9cda60-b3a2-4cb3-bbaf-b66c224396dc" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="9b9cda60-b3a2-4cb3-bbaf-b66c224396dc"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/esg-investing" aria-label="Category: ESG investing">ESG investing</a></div><div class="o-teaser__heading"><a href="/content/9b9cda60-b3a2-4cb3-bbaf-b66c224396dc" data-trackable="heading-link" class="js-teaser-heading-link">Do financiers believe in sustainability or not?</a></div><p class="o-teaser__standfirst"><a href="/content/9b9cda60-b3a2-4cb3-bbaf-b66c224396dc" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">They are either being weak or hypocritical in the face of the current backlash</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="9b9cda60-b3a2-4cb3-bbaf-b66c224396dc" data-myft-ui="saved" action="/myft/save/9b9cda60-b3a2-4cb3-bbaf-b66c224396dc" data-js-action="/__myft/api/core/saved/content/9b9cda60-b3a2-4cb3-bbaf-b66c224396dc?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Do financiers believe in sustainability or not? to myFT for later" aria-label="Save Do financiers believe in sustainability or not? to myFT for later" data-alternate-label="Do financiers believe in sustainability or not? is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="9b9cda60-b3a2-4cb3-bbaf-b66c224396dc" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/9b9cda60-b3a2-4cb3-bbaf-b66c224396dc" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2500%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F4fdb3ba6-421a-45b1-a08f-1bfcf6925f94.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="Cooling towers"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-03-14T12:00:04.139Z">Friday, 14 March, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="7e66952e-b50b-414f-b5a0-cff63e4dbd46" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="7e66952e-b50b-414f-b5a0-cff63e4dbd46"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">Skin in the Game</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/insight-comment" aria-label="Category: Insight & Comment">Insight & Comment</a></div><div class="o-teaser__heading"><a href="/content/7e66952e-b50b-414f-b5a0-cff63e4dbd46" data-trackable="heading-link" class="js-teaser-heading-link">What we need to see to go all in on European stocks</a></div><p class="o-teaser__standfirst"><a href="/content/7e66952e-b50b-414f-b5a0-cff63e4dbd46" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">It’s been a valuation game so far. Time for companies to invest big</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="7e66952e-b50b-414f-b5a0-cff63e4dbd46" data-myft-ui="saved" action="/myft/save/7e66952e-b50b-414f-b5a0-cff63e4dbd46" data-js-action="/__myft/api/core/saved/content/7e66952e-b50b-414f-b5a0-cff63e4dbd46?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save What we need to see to go all in on European stocks to myFT for later" aria-label="Save What we need to see to go all in on European stocks to myFT for later" data-alternate-label="What we need to see to go all in on European stocks is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="7e66952e-b50b-414f-b5a0-cff63e4dbd46" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/7e66952e-b50b-414f-b5a0-cff63e4dbd46" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2375%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fe3c842c0-a425-4761-9c15-8f8537c95aa0.jpg?source=next&fit=scale-down&dpr=2&width=240" alt=""/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-stream-item> <div class="o-ads o-ads advert advert--instream" data-o-ads-targeting="pos=top;" data-o-ads-center="true" data-o-ads-label="false" data-o-ads-formats-small="MediumRectangle,Responsive,OneByOne" data-o-ads-formats-medium="MediumRectangle,Responsive,OneByOne" data-o-ads-formats-large="false" data-o-ads-formats-extra="false" aria-hidden="true"> </div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-03-07T05:00:17.212Z">Friday, 7 March, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="2909686c-fd33-4235-bdc6-b43e5626a11f" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="2909686c-fd33-4235-bdc6-b43e5626a11f"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">Skin in the Game</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/insight-comment" aria-label="Category: Insight & Comment">Insight & Comment</a></div><div class="o-teaser__heading"><a href="/content/2909686c-fd33-4235-bdc6-b43e5626a11f" data-trackable="heading-link" class="js-teaser-heading-link">I told you last summer European stocks were a good idea</a></div><p class="o-teaser__standfirst"><a href="/content/2909686c-fd33-4235-bdc6-b43e5626a11f" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Let’s hope you purchased loads of them — I didn’t and here’s why</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="2909686c-fd33-4235-bdc6-b43e5626a11f" data-myft-ui="saved" action="/myft/save/2909686c-fd33-4235-bdc6-b43e5626a11f" data-js-action="/__myft/api/core/saved/content/2909686c-fd33-4235-bdc6-b43e5626a11f?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save I told you last summer European stocks were a good idea to myFT for later" aria-label="Save I told you last summer European stocks were a good idea to myFT for later" data-alternate-label="I told you last summer European stocks were a good idea is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="2909686c-fd33-4235-bdc6-b43e5626a11f" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/2909686c-fd33-4235-bdc6-b43e5626a11f" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2375%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F014380f0-3bbd-4268-844b-22add0001f1b.jpg?source=next&fit=scale-down&dpr=2&width=240" alt=""/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-02-28T05:00:15.304Z">Friday, 28 February, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="369b1a16-efdf-4795-beb0-674686c27dfa" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="369b1a16-efdf-4795-beb0-674686c27dfa"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">Skin in the Game</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/insight-comment" aria-label="Category: Insight & Comment">Insight & Comment</a></div><div class="o-teaser__heading"><a href="/content/369b1a16-efdf-4795-beb0-674686c27dfa" data-trackable="heading-link" class="js-teaser-heading-link">Trump doesn’t keep my portfolio up at night</a></div><p class="o-teaser__standfirst"><a href="/content/369b1a16-efdf-4795-beb0-674686c27dfa" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">One of my cardinal rules for investing is to ignore politics — I’m not breaking it yet </a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="369b1a16-efdf-4795-beb0-674686c27dfa" data-myft-ui="saved" action="/myft/save/369b1a16-efdf-4795-beb0-674686c27dfa" data-js-action="/__myft/api/core/saved/content/369b1a16-efdf-4795-beb0-674686c27dfa?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Trump doesn’t keep my portfolio up at night to myFT for later" aria-label="Save Trump doesn’t keep my portfolio up at night to myFT for later" data-alternate-label="Trump doesn’t keep my portfolio up at night is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="369b1a16-efdf-4795-beb0-674686c27dfa" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/369b1a16-efdf-4795-beb0-674686c27dfa" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2375%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F922aad76-39d0-444e-b473-b4223d499039.jpg?source=next&fit=scale-down&dpr=2&width=240" alt=""/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-02-21T05:00:15.430Z">Friday, 21 February, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="a5207c66-1cf6-40e5-b3bc-8ab25a0ec998" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="a5207c66-1cf6-40e5-b3bc-8ab25a0ec998"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">Skin in the Game</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/insight-comment" aria-label="Category: Insight & Comment">Insight & Comment</a></div><div class="o-teaser__heading"><a href="/content/a5207c66-1cf6-40e5-b3bc-8ab25a0ec998" data-trackable="heading-link" class="js-teaser-heading-link">Eight investment rules to live and die by</a></div><p class="o-teaser__standfirst"><a href="/content/a5207c66-1cf6-40e5-b3bc-8ab25a0ec998" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">My father enjoyed a long retirement on a modest pension — here’s how he did it</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="a5207c66-1cf6-40e5-b3bc-8ab25a0ec998" data-myft-ui="saved" 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</form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/a5207c66-1cf6-40e5-b3bc-8ab25a0ec998" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2500%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F00dfc19d-91f2-4be9-8851-3261694c23dd.jpg?source=next&fit=scale-down&dpr=2&width=240" alt=""/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-01-24T05:00:56.926Z">Friday, 24 January, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="1ea0e9af-f277-48ac-9a75-89ad00d31ded" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="1ea0e9af-f277-48ac-9a75-89ad00d31ded"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">Skin in the Game</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/insight-comment" aria-label="Category: Insight & Comment">Insight & Comment</a></div><div class="o-teaser__heading"><a href="/content/1ea0e9af-f277-48ac-9a75-89ad00d31ded" data-trackable="heading-link" class="js-teaser-heading-link">Active ETFs are a wheeze — an extremely clever one</a></div><p class="o-teaser__standfirst"><a href="/content/1ea0e9af-f277-48ac-9a75-89ad00d31ded" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">They undercut traditional managers while upselling traditional ETF investors</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="1ea0e9af-f277-48ac-9a75-89ad00d31ded" data-myft-ui="saved" action="/myft/save/1ea0e9af-f277-48ac-9a75-89ad00d31ded" data-js-action="/__myft/api/core/saved/content/1ea0e9af-f277-48ac-9a75-89ad00d31ded?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Active ETFs are a wheeze — an extremely clever one to myFT for later" aria-label="Save Active ETFs are a wheeze — an extremely clever one to myFT for later" data-alternate-label="Active ETFs are a wheeze — an extremely clever one is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " 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data-o-ads-name="PartnerContent--horizontal" data-o-ads-targeting="pos=native;format=horizontal" data-o-ads-formats="PartnerContent" data-o-ads-component="slot" ></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-01-17T18:00:31.336Z">Friday, 17 January, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="921e0fb1-9f4b-46eb-81ce-93d03e0d6641" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="921e0fb1-9f4b-46eb-81ce-93d03e0d6641"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/global-inflation" aria-label="Category: Global inflation">Global inflation</a></div><div class="o-teaser__heading"><a href="/content/921e0fb1-9f4b-46eb-81ce-93d03e0d6641" data-trackable="heading-link" class="js-teaser-heading-link">Investors better hope inflation and intangibles never meet</a></div><p class="o-teaser__standfirst"><a href="/content/921e0fb1-9f4b-46eb-81ce-93d03e0d6641" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Unlike physical assets, those we cannot see have never been tested by rising prices</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="921e0fb1-9f4b-46eb-81ce-93d03e0d6641" data-myft-ui="saved" action="/myft/save/921e0fb1-9f4b-46eb-81ce-93d03e0d6641" data-js-action="/__myft/api/core/saved/content/921e0fb1-9f4b-46eb-81ce-93d03e0d6641?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." 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data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F6ad514da-64fd-483f-aac3-946c2543e8ea.jpg?source=next&fit=scale-down&dpr=2&width=240" alt=""/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-01-10T05:00:29.952Z">Friday, 10 January, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="deb84b60-f812-4a04-8a82-1840bb3fb222" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="deb84b60-f812-4a04-8a82-1840bb3fb222"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">Skin in the Game</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/insight-comment" aria-label="Category: Insight & Comment">Insight & Comment</a></div><div class="o-teaser__heading"><a href="/content/deb84b60-f812-4a04-8a82-1840bb3fb222" data-trackable="heading-link" class="js-teaser-heading-link">Why everyone else can panic about rising bond yields</a></div><p class="o-teaser__standfirst"><a href="/content/deb84b60-f812-4a04-8a82-1840bb3fb222" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">In the US they signal optimism while I’m loving a weaker pound</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="deb84b60-f812-4a04-8a82-1840bb3fb222" data-myft-ui="saved" action="/myft/save/deb84b60-f812-4a04-8a82-1840bb3fb222" data-js-action="/__myft/api/core/saved/content/deb84b60-f812-4a04-8a82-1840bb3fb222?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement 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data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2024-12-27T05:00:02.861Z">Friday, 27 December, 2024</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="63253e2a-a976-4314-8f07-26ce2c47989f" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="63253e2a-a976-4314-8f07-26ce2c47989f"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">Skin in the Game</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/insight-comment" aria-label="Category: Insight & Comment">Insight & Comment</a></div><div class="o-teaser__heading"><a href="/content/63253e2a-a976-4314-8f07-26ce2c47989f" data-trackable="heading-link" class="js-teaser-heading-link">My answers to your most popular questions this year</a></div><p class="o-teaser__standfirst"><a href="/content/63253e2a-a976-4314-8f07-26ce2c47989f" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">From investing without losing it, to green finance and getting rich quick</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="63253e2a-a976-4314-8f07-26ce2c47989f" data-myft-ui="saved" action="/myft/save/63253e2a-a976-4314-8f07-26ce2c47989f" data-js-action="/__myft/api/core/saved/content/63253e2a-a976-4314-8f07-26ce2c47989f?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save My answers to your most popular questions this year to myFT for later" aria-label="Save My answers to your most popular questions 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data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2024-12-24T05:00:52.781Z">Tuesday, 24 December, 2024</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="c3b93fd9-32c5-4fbe-b236-5196a685bedc" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="c3b93fd9-32c5-4fbe-b236-5196a685bedc"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/private-investing" aria-label="Category: Private investing">Private investing</a></div><div class="o-teaser__heading"><a href="/content/c3b93fd9-32c5-4fbe-b236-5196a685bedc" data-trackable="heading-link" class="js-teaser-heading-link">Free reader event: Quiz Stuart Kirk on his investment plans for 2025</a></div><p class="o-teaser__standfirst"><a href="/content/c3b93fd9-32c5-4fbe-b236-5196a685bedc" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">FT columnists Stuart Kirk, Claer Barrett and Moria O’Neill to take reader questions at online webinar </a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="c3b93fd9-32c5-4fbe-b236-5196a685bedc" data-myft-ui="saved" action="/myft/save/c3b93fd9-32c5-4fbe-b236-5196a685bedc" data-js-action="/__myft/api/core/saved/content/c3b93fd9-32c5-4fbe-b236-5196a685bedc?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Free reader event: Quiz Stuart Kirk on his investment plans for 2025 to myFT for later" 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Stuart Kirk, Moira O’Neill and Claer Barrett"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2024-12-13T05:00:39.910Z">Friday, 13 December, 2024</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="2e2603bf-a297-445f-bbad-20a619af7688" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="2e2603bf-a297-445f-bbad-20a619af7688"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/us-politics-policy" aria-label="Category: US politics & policy">US politics & policy</a></div><div class="o-teaser__heading"><a href="/content/2e2603bf-a297-445f-bbad-20a619af7688" data-trackable="heading-link" class="js-teaser-heading-link">Trump is the poster child of DEI </a></div><p class="o-teaser__standfirst"><a href="/content/2e2603bf-a297-445f-bbad-20a619af7688" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">His incoming administration illustrates the benefits of diversity </a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="2e2603bf-a297-445f-bbad-20a619af7688" data-myft-ui="saved" action="/myft/save/2e2603bf-a297-445f-bbad-20a619af7688" data-js-action="/__myft/api/core/saved/content/2e2603bf-a297-445f-bbad-20a619af7688?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Trump is the poster child of DEI to myFT for later" aria-label="Save Trump is the poster child of DEI to myFT for later" data-alternate-label="Trump is the poster child of DEI is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="2e2603bf-a297-445f-bbad-20a619af7688" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/2e2603bf-a297-445f-bbad-20a619af7688" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2445%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F0ad82396-2705-4f9e-9c7b-0b015ff57114.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="Elon Musk and Donald Trump walk and talk"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2024-12-06T05:00:17.227Z">Friday, 6 December, 2024</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="6e5a16e3-c35b-48ef-832b-24bfde64105f" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="6e5a16e3-c35b-48ef-832b-24bfde64105f"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">Skin in the Game</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/investing-in-funds" aria-label="Category: Investing in funds">Investing in funds</a></div><div class="o-teaser__heading"><a href="/content/6e5a16e3-c35b-48ef-832b-24bfde64105f" data-trackable="heading-link" class="js-teaser-heading-link">Why portfolio rebalancing isn’t zen</a></div><p class="o-teaser__standfirst"><a href="/content/6e5a16e3-c35b-48ef-832b-24bfde64105f" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Neither theory nor practice supports diligently adjusting your exposures</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="6e5a16e3-c35b-48ef-832b-24bfde64105f" data-myft-ui="saved" action="/myft/save/6e5a16e3-c35b-48ef-832b-24bfde64105f" data-js-action="/__myft/api/core/saved/content/6e5a16e3-c35b-48ef-832b-24bfde64105f?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div 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style="padding-bottom:56.2375%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F0b26bb2d-bef7-41b8-a96d-a627b3e42e31.jpg?source=next&fit=scale-down&dpr=2&width=240" alt=""/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2024-11-29T05:00:34.595Z">Friday, 29 November, 2024</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="57c03052-860b-4d35-bd09-ac8a91577b82" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="57c03052-860b-4d35-bd09-ac8a91577b82"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">Skin in the Game</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/insight-comment" aria-label="Category: Insight & Comment">Insight & Comment</a></div><div class="o-teaser__heading"><a href="/content/57c03052-860b-4d35-bd09-ac8a91577b82" data-trackable="heading-link" class="js-teaser-heading-link">Stock investors needn’t fear tariffs</a></div><p class="o-teaser__standfirst"><a href="/content/57c03052-860b-4d35-bd09-ac8a91577b82" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Uncertainty around trade merely increases the equity risk premium</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="57c03052-860b-4d35-bd09-ac8a91577b82" data-myft-ui="saved" action="/myft/save/57c03052-860b-4d35-bd09-ac8a91577b82" data-js-action="/__myft/api/core/saved/content/57c03052-860b-4d35-bd09-ac8a91577b82?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" 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class="o-teaser__image-placeholder" style="padding-bottom:56.2375%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F05ab740e-d939-4cc4-89bf-8ab12cbd430e.jpg?source=next&fit=scale-down&dpr=2&width=240" alt=""/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-stream-item> <div class="o-ads o-ads advert advert--instream" data-o-ads-targeting="pos=mid1;" data-o-ads-center="true" data-o-ads-label="false" data-o-ads-formats-small="MediumRectangle,Responsive,OneByOne" data-o-ads-formats-medium="MediumRectangle,Responsive,OneByOne" data-o-ads-formats-large="false" data-o-ads-formats-extra="false" aria-hidden="true"> </div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2024-11-22T05:00:31.549Z">Friday, 22 November, 2024</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="36dc6603-0f85-4e96-b15f-e38d79ada6fb" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="36dc6603-0f85-4e96-b15f-e38d79ada6fb"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">Skin in the Game</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/investments" aria-label="Category: Investments">Investments</a></div><div class="o-teaser__heading"><a href="/content/36dc6603-0f85-4e96-b15f-e38d79ada6fb" data-trackable="heading-link" class="js-teaser-heading-link">Why I’m sticking to my guns with my portfolio</a></div><p class="o-teaser__standfirst"><a href="/content/36dc6603-0f85-4e96-b15f-e38d79ada6fb" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">As I reach the two-year anniversary, I find generally sweet returns — with one flaw</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="36dc6603-0f85-4e96-b15f-e38d79ada6fb" data-myft-ui="saved" action="/myft/save/36dc6603-0f85-4e96-b15f-e38d79ada6fb" data-js-action="/__myft/api/core/saved/content/36dc6603-0f85-4e96-b15f-e38d79ada6fb?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Why I’m sticking to my guns with my portfolio to myFT for later" aria-label="Save Why I’m sticking to my guns with my 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data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2024-11-15T18:00:46.145Z">Friday, 15 November, 2024</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="e57400da-92f2-4488-a65b-1cd24460cca7" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="e57400da-92f2-4488-a65b-1cd24460cca7"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/economy" aria-label="Category: Economy">Economy</a></div><div class="o-teaser__heading"><a href="/content/e57400da-92f2-4488-a65b-1cd24460cca7" data-trackable="heading-link" class="js-teaser-heading-link">We forget about comparative advantage at our peril</a></div><p class="o-teaser__standfirst"><a href="/content/e57400da-92f2-4488-a65b-1cd24460cca7" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Companies and countries should maintain a laser-like focus on what they do best</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="e57400da-92f2-4488-a65b-1cd24460cca7" data-myft-ui="saved" action="/myft/save/e57400da-92f2-4488-a65b-1cd24460cca7" data-js-action="/__myft/api/core/saved/content/e57400da-92f2-4488-a65b-1cd24460cca7?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save We forget about comparative advantage at our peril to myFT for later" aria-label="Save We forget about comparative 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class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2024-11-08T05:00:53.605Z">Friday, 8 November, 2024</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="0b8f503f-900b-47df-971c-6d0185363fcf" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="0b8f503f-900b-47df-971c-6d0185363fcf"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">Skin in the Game</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/us-equities" aria-label="Category: US equities">US equities</a></div><div class="o-teaser__heading"><a href="/content/0b8f503f-900b-47df-971c-6d0185363fcf" data-trackable="heading-link" class="js-teaser-heading-link">Why it’s way easier to call US elections than pick stocks</a></div><p class="o-teaser__standfirst"><a href="/content/0b8f503f-900b-47df-971c-6d0185363fcf" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Even so, I’m yearning to have a go if only to amuse my readers</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="0b8f503f-900b-47df-971c-6d0185363fcf" data-myft-ui="saved" action="/myft/save/0b8f503f-900b-47df-971c-6d0185363fcf" data-js-action="/__myft/api/core/saved/content/0b8f503f-900b-47df-971c-6d0185363fcf?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Why it’s way easier to call US 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data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fc7da0f4d-48b6-4d1a-9890-7cbbe90fc8bd.jpg?source=next&fit=scale-down&dpr=2&width=240" alt=""/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2024-11-01T05:00:08.959Z">Friday, 1 November, 2024</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="57c39d18-a133-4436-8f99-e6bf9825a5e8" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="57c39d18-a133-4436-8f99-e6bf9825a5e8"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">Skin in the Game</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/insight-comment" aria-label="Category: Insight & Comment">Insight & Comment</a></div><div class="o-teaser__heading"><a href="/content/57c39d18-a133-4436-8f99-e6bf9825a5e8" data-trackable="heading-link" class="js-teaser-heading-link">Should you ever buy a stock index at a record high?</a></div><p class="o-teaser__standfirst"><a href="/content/57c39d18-a133-4436-8f99-e6bf9825a5e8" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">It feels so wrong, but investors (me included) needn’t worry so much</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="57c39d18-a133-4436-8f99-e6bf9825a5e8" data-myft-ui="saved" action="/myft/save/57c39d18-a133-4436-8f99-e6bf9825a5e8" data-js-action="/__myft/api/core/saved/content/57c39d18-a133-4436-8f99-e6bf9825a5e8?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement 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style="padding-bottom:56.2375%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F77133a4d-878c-4667-b3fa-8184073b1667.jpg?source=next&fit=scale-down&dpr=2&width=240" alt=""/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2024-10-18T04:00:45.059Z">Friday, 18 October, 2024</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="60b1e2a5-8667-47b8-ac04-00d4ad85e01f" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="60b1e2a5-8667-47b8-ac04-00d4ad85e01f"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">Skin in the Game</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/corporate-earnings-results" aria-label="Category: Corporate earnings and results">Corporate earnings and results</a></div><div class="o-teaser__heading"><a href="/content/60b1e2a5-8667-47b8-ac04-00d4ad85e01f" data-trackable="heading-link" class="js-teaser-heading-link">A beginner’s guide to US earnings season</a></div><p class="o-teaser__standfirst"><a href="/content/60b1e2a5-8667-47b8-ac04-00d4ad85e01f" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Corporate profits matter, but some results matter more than others</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="60b1e2a5-8667-47b8-ac04-00d4ad85e01f" data-myft-ui="saved" action="/myft/save/60b1e2a5-8667-47b8-ac04-00d4ad85e01f" data-js-action="/__myft/api/core/saved/content/60b1e2a5-8667-47b8-ac04-00d4ad85e01f?method=put" data-myft-ui-save-config=""> <input 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aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2375%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F44d8f407-a484-4833-8baf-b4fed516b2b9.jpg?source=next&fit=scale-down&dpr=2&width=240" alt=""/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2024-10-11T17:00:29.009Z">Friday, 11 October, 2024</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="130cf0ea-16a2-4b22-aaa3-84a36b0642c7" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="130cf0ea-16a2-4b22-aaa3-84a36b0642c7"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/banks" aria-label="Category: Banks">Banks</a></div><div class="o-teaser__heading"><a href="/content/130cf0ea-16a2-4b22-aaa3-84a36b0642c7" data-trackable="heading-link" class="js-teaser-heading-link">It’s about time bankers were cool again</a></div><p class="o-teaser__standfirst"><a href="/content/130cf0ea-16a2-4b22-aaa3-84a36b0642c7" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">The stigma that finance has long endured is both out-of-date and unwarranted</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="130cf0ea-16a2-4b22-aaa3-84a36b0642c7" data-myft-ui="saved" action="/myft/save/130cf0ea-16a2-4b22-aaa3-84a36b0642c7" data-js-action="/__myft/api/core/saved/content/130cf0ea-16a2-4b22-aaa3-84a36b0642c7?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> 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style="padding-bottom:56.2375%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fbb7b1879-b972-4cb1-ae34-b5894c5f729f.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="The cast of BBC’s Industry"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2024-10-04T11:06:20.711Z">Friday, 4 October, 2024</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="a900012d-042d-40e0-b244-89c0c7dbdeda" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="a900012d-042d-40e0-b244-89c0c7dbdeda"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">Skin in the Game</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/insight-comment" aria-label="Category: Insight & Comment">Insight & Comment</a></div><div class="o-teaser__heading"><a href="/content/a900012d-042d-40e0-b244-89c0c7dbdeda" data-trackable="heading-link" class="js-teaser-heading-link">In investing, what if bad is good and good is bad?</a></div><p class="o-teaser__standfirst"><a href="/content/a900012d-042d-40e0-b244-89c0c7dbdeda" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">As with parenting, constraints are not enemies. Quite the opposite in fact</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="a900012d-042d-40e0-b244-89c0c7dbdeda" data-myft-ui="saved" action="/myft/save/a900012d-042d-40e0-b244-89c0c7dbdeda" data-js-action="/__myft/api/core/saved/content/a900012d-042d-40e0-b244-89c0c7dbdeda?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save In investing, what if bad is good and good is bad? to myFT for later" aria-label="Save In investing, what if bad is good and good is bad? to myFT for later" data-alternate-label="In investing, what if bad is good and good is bad? is Saved to myFT" 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data-o-date-format="date-only" datetime="2024-09-20T04:00:33.071Z">Friday, 20 September, 2024</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="0b2c85a5-0d42-4efa-b51a-95ce83a70566" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="0b2c85a5-0d42-4efa-b51a-95ce83a70566"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">Skin in the Game</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/investments" aria-label="Category: Investments">Investments</a></div><div class="o-teaser__heading"><a href="/content/0b2c85a5-0d42-4efa-b51a-95ce83a70566" data-trackable="heading-link" class="js-teaser-heading-link">Three big investment questions I’m asking now — and so should you</a></div><p class="o-teaser__standfirst"><a href="/content/0b2c85a5-0d42-4efa-b51a-95ce83a70566" data-trackable="standfirst-link" tabindex="-1" 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o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/us" data-trackable="US">US</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-2" data-trackable="sub-level-toggle | US">Show more US</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-2" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/us-economy" data-trackable="US Economy">US Economy</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/us-companies" data-trackable="US Companies">US Companies</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/us-politics-policy" data-trackable="US Politics & Policy">US Politics & Policy</a></li></ul></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/companies" data-trackable="Companies">Companies</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-3" data-trackable="sub-level-toggle | Companies">Show more Companies</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-3" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/energy" data-trackable="Energy">Energy</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/financials" data-trackable="Financials">Financials</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/health" data-trackable="Health">Health</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/industrials" data-trackable="Industrials">Industrials</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/media" data-trackable="Media">Media</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/professional-services" data-trackable="Professional Services">Professional Services</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/retail-consumer" data-trackable="Retail & Consumer">Retail & Consumer</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/technology-sector" data-trackable="Tech Sector">Tech Sector</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/telecoms" data-trackable="Telecoms">Telecoms</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/transport" data-trackable="Transport">Transport</a></li></ul></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/technology" data-trackable="Tech">Tech</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-4" data-trackable="sub-level-toggle | Tech">Show more Tech</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-4" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/artificial-intelligence" data-trackable="Artificial intelligence">Artificial intelligence</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/semiconductors" data-trackable="Semiconductors">Semiconductors</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/cyber-security" data-trackable="Cyber Security">Cyber Security</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/social-media" data-trackable="Social Media">Social Media</a></li></ul></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/markets" data-trackable="Markets">Markets</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-5" data-trackable="sub-level-toggle | Markets">Show more Markets</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-5" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/alphaville" data-trackable="Alphaville">Alphaville</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="https://markets.ft.com/data" data-trackable="Markets Data">Markets Data</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/crypto" data-trackable="Crypto">Crypto</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/capital-markets" data-trackable="Capital Markets">Capital Markets</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/commodities" data-trackable="Commodities">Commodities</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/currencies" data-trackable="Currencies">Currencies</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/equities" data-trackable="Equities">Equities</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="https://professional-monetary-policy-radar.ft.com/" data-trackable="Monetary Policy Radar">Monetary Policy Radar</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/ft-wealth-management" data-trackable="Wealth Management">Wealth Management</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/moral-money" data-trackable="Moral Money">Moral Money</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/etf-hub" data-trackable="ETF Hub">ETF Hub</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/fund-management" data-trackable="Fund Management">Fund Management</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/ft-trading-room" data-trackable="Trading">Trading</a></li></ul></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/climate-capital" data-trackable="Climate">Climate</a></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/opinion" data-trackable="Opinion">Opinion</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-7" data-trackable="sub-level-toggle | Opinion">Show more Opinion</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-7" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/columnists" data-trackable="Columnists">Columnists</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/ft-view" data-trackable="The FT View">The FT View</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/the-big-read" data-trackable="The Big Read">The Big Read</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/lex" data-trackable="Lex">Lex</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/obituaries" data-trackable="Obituaries">Obituaries</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/letters" data-trackable="Letters">Letters</a></li></ul></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/lex" data-trackable="Lex">Lex</a></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/work-careers" data-trackable="Work & Careers">Work & Careers</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-9" data-trackable="sub-level-toggle | Work & Careers">Show more Work & Careers</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-9" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="https://rankings.ft.com/business-education" data-trackable="Business School Rankings">Business School Rankings</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/business-education" data-trackable="Business Education">Business Education</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="https://rankings.ft.com/incubator-accelerator-programmes-europe" data-trackable="Europe's Start-Up Hubs">Europe's Start-Up Hubs</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/entrepreneurship" data-trackable="Entrepreneurship">Entrepreneurship</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/recruitment" data-trackable="Recruitment">Recruitment</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/business-books" data-trackable="Business Books">Business Books</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/business-travel" data-trackable="Business Travel">Business Travel</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/working-it" data-trackable="Working It">Working It</a></li></ul></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/life-arts" data-trackable="Life & Arts">Life & Arts</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-10" data-trackable="sub-level-toggle | Life & Arts">Show more Life & Arts</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-10" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/arts" data-trackable="Arts">Arts</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/books" data-trackable="Books">Books</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/food-drink" data-trackable="Food & Drink">Food & Drink</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/magazine" data-trackable="FT Magazine">FT Magazine</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/house-home" data-trackable="House & Home">House & Home</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/style" data-trackable="Style">Style</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/puzzles-games" data-trackable="Puzzles">Puzzles</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/travel" data-trackable="Travel">Travel</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/globetrotter" data-trackable="FT Globetrotter">FT Globetrotter</a></li></ul></li><li class="o-header__drawer-menu-item"><div class="o-header__drawer-menu-toggle-wrapper"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--parent" href="/personal-finance" data-trackable="Personal Finance">Personal Finance</a><button class="o-header__drawer-menu-toggle o-header__drawer-menu-toggle--unselected" aria-controls="o-header-drawer-child-11" data-trackable="sub-level-toggle | Personal Finance">Show more Personal Finance</button></div><ul class="o-header__drawer-menu-list o-header__drawer-menu-list--child" id="o-header-drawer-child-11" data-trackable="sub-level"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/mortgages" data-trackable="Property & Mortgages">Property & Mortgages</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/investments" data-trackable="Investments">Investments</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/pensions" data-trackable="Pensions">Pensions</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/tax" data-trackable="Tax">Tax</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/banking-savings" data-trackable="Banking & Savings">Banking & Savings</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected o-header__drawer-menu-link--child" href="/advice-comment" data-trackable="Advice & Comment">Advice & Comment</a></li></ul></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/htsi" data-trackable="HTSI">HTSI</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/special-reports" data-trackable="Special Reports">Special Reports</a></li></ul><h2 id="ft-recommends" class="o-header__drawer-menu-item o-header__drawer-menu-item--heading">FT recommends</h2><ul aria-labelledby="ft-recommends" class="o-header__drawer-menu-list"><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/alphaville" data-trackable="Alphaville">Alphaville</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/ft-edit" data-trackable="FT Edit">FT Edit</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/lunch-with-the-ft" data-trackable="Lunch with the FT">Lunch with the FT</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link o-header__drawer-menu-link--unselected" href="/globetrotter" data-trackable="FT Globetrotter">FT Globetrotter</a></li><li class="o-header__drawer-menu-item"><a class="o-header__drawer-menu-link 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