The Show
Neil and Jon on what the market heard this week — and what it should have heard.
S2 Ep 15
Latest episode23 OCT 2026 · 41:22
The AI Boom Is Only in the Foothills
AI stocks sold off hard last week, and the Financial Times called it a dress rehearsal for an AI reckoning. Is the AI bubble about to burst? Neil Woodford thinks the AI boom is only in the foothills, but he has a clear view on who is holding the risk if it doesn't pay for itself.
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Three from the archive, if you’re just arriving01
Does Britain Really Need £35bn of Tax Rises?
Does the UK need £35bn of tax rises at the 2026 Budget?
S2 Ep 14 · 42:1302Stamp Duty Has Quietly Doubled. That's Why Britain Stopped Moving
Stamp duty on a typical UK house move has roughly doubled in 20 years without a single rate rise, and the number of homeowners moving house with a mortgage has more than halved.
S2 Ep 13 · 34:1403Britain Borrowed £3.5bn Too Much. So Why Did Borrowing Get Cheaper?
UK gilt yields fell on the day Britain found out it had borrowed £3.5bn more than planned.
S2 Ep 12 · 32:13The archive
50 episodes · film + audio · every word searchable →42:13S2 Ep 14 · 16 OCT 2026
Does Britain Really Need £35bn of Tax Rises?
34:14S2 Ep 13 · 02 OCT 2026Stamp Duty Has Quietly Doubled. That's Why Britain Stopped Moving
32:13S2 Ep 12 · 25 SEPT 2026Britain Borrowed £3.5bn Too Much. So Why Did Borrowing Get Cheaper?
39:32S2 Ep 11 · 18 SEPT 2026AI Could Take Your Job by 2030. Where Does The Money Go?
38:10S2 Ep 10 · 04 SEPT 2026UK Inflation Will Stay at 3% — Here’s Why the Market Is Wrong
32:01S2 Ep 9 · 28 AUG 2026Britain’s Productivity Crisis: A Great Deception?
32:27S2 Ep 8 · 21 AUG 2026The 7 Decisions Every Investor Faces (Part 1: The Funnel)
28:22S2 Ep 7 · 14 AUG 2026One Banking Rule Locked a Generation Out of Housing. What Happens When It Goes?
34:10S2 Ep 6 · 07 AUG 2026Britain Doesn't Have an Inequality Problem
11:48S2 Ep 5 · 31 JUL 2026140 UK Data Centres Are Queuing for Power That Doesn't Exist. Here's Where the Money Goes.
42:56S2 Ep 4 · 24 JUL 2026UK Interest Rates Are Heading Below 3% — And the New Prime Minister Can't Stop It
42:56S2 Ep 3 · 17 JUL 2026The People Who Got This War Wrong Set Your Interest Rate
32:46S2 Ep 2 · 10 JUL 2026London Isn't Dying — It's On Sale. Here's Where To Look
39:53S2 Ep 1 · 03 JUL 2026Three Central Banks Made the Same Mistake in One Week
41:38S1 Ep 40 · 05 JUN 2026The Three Forces About to Crush Inflation
31:24S1 Ep 39 · 29 MAY 2026Why Britain Can't Build a Trillion Dollar Giant
35:55S1 Ep 38 · 22 MAY 2026The AI IPO Wave Is Coming
36:14S1 Ep 37 · 15 MAY 2026Why the IMF Is Wrong About Britain (And What To Do About It)
38:16S1 Ep 36 · 08 MAY 2026Forget China. Europe Is The Imbalance That Could Drag Britain Down.
31:07S1 Ep 35 · 01 MAY 2026The blockade is working. The cartel is breaking. Oil is going down.
35:54S1 Ep 34 · 24 APR 2026Britain's Energy Shock Won't Break the Economy — Here's What Will
38:24S1 Ep 33 · 17 APR 2026The Iran War Is Already Over — Here's Why
45:57S1 Ep 32 · 10 APR 2026The Stagflation Panic Is Wrong — Here's What's Really Happening
43:41S1 Ep 31 · 03 APR 2026Three Ways This War Ends (One Of Them Is Very Bad)
32:41S1 Ep 30 · 27 MAR 2026Britain's Energy Policy Is Making You Poorer
36:57S1 Ep 29 · 20 MAR 2026Every Oil Shock Is Followed by a Recession. But Not for the Reason You Think
38:05S1 Ep 28 · 13 MAR 2026Why Investors Are Selling Their Best Stocks Right Now
43:46S1 Ep 27 · 06 MAR 2026War in Iran — The 5 Principles That Stop You Panic Selling
41:36S1 Ep 26 · 27 FEB 2026The Price of Perfection: Why Expensive Markets Break First
39:48S1 Ep 25 · 20 FEB 2026The UK Market Tailwind Almost Nobody Is Pricing In
35:12S1 Ep 24 · 13 FEB 2026How Britain Broke Its Own Stock Market
41:21S1 Ep 23 · 06 FEB 2026$1 Trillion Gone From Software Stocks. Here's What It Means For Your Pension
32:09S1 Ep 22 · 30 JAN 2026Why UK Investors Need to Rethink Dollar Exposure NOW
53:59S1 Ep 21 · 23 JAN 2026How I'm Investing in 2026 (What If I'm Wrong?)
56:45S1 Ep 20 · 09 JAN 2026103 Economists Are Wrong About The UK (Here's the Data)
59:46S1 Ep 19 · 12 DEC 2025How to Build a Winning 2026 Investment Strategy
44:52S1 Ep 18 · 05 DEC 2025Is the US financial system more fragile than it looks?
39:32S1 Ep 17 · 27 NOV 2025The Most Leaked Budget in History: But Will It Work?
39:50S1 Ep 16 · 21 NOV 2025Are We All Doomed or Just Being Misled?
39:29S1 Ep 15 · 14 NOV 2025The AI Lie: Why Investors Are Getting This Completely Wrong
36:55S1 Ep 14 · 07 NOV 2025The Chancellor's Big Lie About Britain's Economy
21:44S1 Ep 13 · 07 NOV 2025Can it last? Nvidia’s dominance, Trump’s truce and cheap UK stocks
31:08S1 Ep 12 · 24 OCT 2025Is now the BEST time to buy cheap UK stocks?
43:56S1 Ep 11 · 17 OCT 2025The Truth About Buying Stocks at High Valuations
40:04S1 Ep 10 · 10 OCT 2025Are we heading for catastrophe?
42:48S1 Ep 9 · 03 OCT 2025Are we in an AI bubble? And will the UK need an IMF bailout?
37:51S1 Ep 8 · 26 SEPT 2025Trump flips on Ukraine, PIMCO joins the doves, $4T AI boom
31:42S1 Ep 7 · 19 SEPT 2025FED cuts, BOE holds. Tiktok saved? $250Bn to the UK.
28:43S1 Ep 6 · 12 SEPT 2025Pharma Walks Out, Red Tape Gone Mad, Oracle Skyrockets
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The Show is free, everywhereThe judgementNeil Woodford
35 years running UK money. The view on what the market heard — and what it should have heard.
The mechanismJon Adair
The numbers and the plumbing — how the grid queue, the gilt curve and the index flywheel actually work.