The Economics of the Stock Market (with Andrew Smithers)

Episode 5

May 20 2022

36 minutes

Andrew Smithers first dabbled in the stock market as a schoolboy in the 1950s, and grew into one of the most respected economics commentators of his generation. As well as running S G Warburg’s asset management business (now part of Black Rock) for many years, he was a columnist for The Financial Times and has written several books. His latest – The Economics of the Stock Market – focuses on the difference between corporate net worth and market valuation, and the discrepancies between the theory and the practice.

This episode is a must-listen for anyone interested in the markets, with the interview expertly conducted by Professor Russell Napier.

[Note to listeners: Andrew’s audio was recorded remotely on his home set-up and while not up to the usual sound quality of the series, we hope you are able to enjoy his observations.]

For more information on the Advanced Valuation in Financial Markets course mentioned by Russell, click here

Listen and subscribe on

The Library of Mistakes Course

The online version of our renowned course, is available for both finance professionals and nonprofessionals.

As featured in the Financial Times

In conjunction with Heriot-Watt University

Recent podcasts

War and Gold (with Kwasi Kwarteng)

Financial historian and former Chancellor of the Exchequer Kwasi Kwarteng discusses War And Gold, his 500-year review of 'empires, adventures and debt'. In conversation with ...
Listen to podcast

The Market Mind Hypothesis (with Patrick Schotanus)

Welcome to a special, extended episode recorded live at the Library of Mistakes on 15 November 2023. Cognitive economist and investment 'pracademic' Patrick Schotanus discusses ...
Listen to podcast

Behind the Balance Sheet (with Stephen Clapham)

Stephen Clapham joins Russell Napier to discuss the clues and warnings that are often hiding in plain sight within the pages of a company's accounts ...
Listen to podcast
Scroll to Top