We are now tweeting about all Money Makers investment trust content here @MoneyMakersITs; you can follow the podcast, handbook and Money Makers circle (subscription service) updates there.

August 2026 recap jdinvestor.substack.com/p/au…

ChatGPT is smart enough to get an MBA, but is also "a consummate bullshitter and I mean that in a technical sense” says Wharton Prof Ethan Mollick. “Bullshit is convincing-sounding nonsense, devoid of truth, and AI is very good at creating it". Lots of jobs in finance then!

Sad to see the proposed demise of the Independent Investment Trust, via absorption into Monks - IIT has a famous history as a Keynes/Falk vehicle in the 1920s (as I recall), more recently in the capable hands of ex-SMT manager Max Ward.

Back to the 1970s? On to the Roaring 2020s? You can hear the first part of my conversation with Terry Smith, founder of Fundsmith, on this and other investment topics here masterinvestor.co.uk/podcast…. As thought provoking as ever.

Terry Smith, founder of Fundsmith, talks to me at length about the 1970s, the markets today and what comes next - fascinating and out shortly - watch this space.

"This heat is already making me hallucinate. Last night I dreamt that Liz Truss and Penny Mordaunt were running for the Conservative leadership" - Patrick Maguire of The Times. Individuals aside, something surreal about this whole process, given where the UK is right now.

Will Boris now be thinking in Churchillian terms - some years in the political wilderness, a self-serving memoir (loosely related to what actually happened, but a cracking read), more lucrative newspaper columns, followed by a triumphant return at the outbreak of World War Three?

The joys of Twitter - I haven't yet seen a comment from anyone about the end of Boris that wasn't exactly what I could have predicted they would say

Investment trusts - what has happened this year, what comes next? Happy half an hour discussing that with my Money Makers podcast co-host Simon Elliott on Asset TV yesterday - will be out soon. Follow @MoneyMakersITs for more regular updates.

For a take on the Russian invasion of Ukraine, the fund manager Peter Seilern and I discuss the ramifications in our latest Moses and Methusaleh podcast. Peter's family hails from Austria; his central European perspective invaluable for putting this shameful war in context.

Make that @mellotrusts event this Thursday Feb 24th 2022.......talking about investment books and chairing a panel.

Will be talking about investment books (1pm) and chairing a panel (5pm) at the Mello Trust and Funds event this Thursday (Feb 14th) - @mellotrusts. Could not ask for more interesting times in the markets.

The next edition of the annual Investment Trusts Handbook (the 5th) has gone to print and is now available to pre-order as hard copy or free e-book download harriman-house.com/ithb2022. A lot of work but (I hope) 280 pages of good stuff for investment trust afficionados.

My Money Makers colleague Stuart Watson has done an in-depth dive into HG Capital Trust for our latest MM circle weekly edition (at money-makers.co) - one of many good investment trusts I am happy to have owned for several years.