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

What I Learned This Week (with Kiril Sokoloff)

For 40 years, Kiril Sokoloff, the founder of 13D Research & Strategy, has been picking some of the biggest turning points in financial markets. And, ...
Listen to podcast

Investing in US Financial History (with Mark J Higgins)

Russell Napier and Mark J Higgins explore some of the lessons to be learned from Mark's latest book, Investing in US Financial History: Understanding the ...
Listen to podcast

Boom and Bust (with William Quinn & John D. Turner)

In an appetising taster of our Weekend of Mistakes at Hay Castle on 1-3 March 2024, Russell Napier is joined by the authors of Boom ...
Listen to podcast
Scroll to Top