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A Value View - The Merchants Trust PLC Podcast

A Value View - The Merchants Trust PLC Podcast

Hosted by AllianzGI Investment Trusts

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Episodes

40

Latest episode

Jul 2026

Language

EN

About the show

A Value View is a series of topical podcasts from The Merchants Trust, ​focusing on developments affecting the UK market environment and how the trust navigates them. So what does this mean for investors? – join portfolio manager Simon Gergel as he offers his thoughts Hosted on Acast. See acast.com/privacy for more information.

Listen to episodes

40 recent
July 22, 202610 min

What does decades of investing through market booms, crashes and uncertainty teach you?

In this episode of A Value View, Simon Gergel, lead fund Manager at The Merchants Trust, reflects on more than 30 years of investing through changing market conditions. From the dot-com bubble and the global financial crisis to COVID-19 and today's AI-driven market rally, Simon shares how experience has shaped his approach to investing and why discipline matters more than emotion.Discover why successful investing isn't about being contrarian for the sake of it, but about building conviction through rigorous research, maintaining perspective during periods of market volatility and staying focused on long-term value. Simon also explains how investors can avoid being swept up by market sentiment and offers a practical framework for making more rational investment decisions.Whether you're a long-term investor, interested in UK equities, dividend investing or simply looking to better understand market psychology, this episode offers valuable insights into the mindset and discipline behind successful investing. Hosted on Acast. See acast.com/privacy for more information.

June 29, 202611 min

The courage of your convictions: investing through market discomfort

In this episode of Value View, The Merchants Trust lead manager Simon Gergel explores one of investing’s toughest challenges: maintaining conviction when markets move against you. Simon explains why conviction is not blind faith, but a disciplined process of constantly testing investment ideas, questioning assumptions and separating genuine risks from market noise.Using Tate & Lyle as a real-world example, Simon discusses how perception can differ from reality, why improving businesses can still see their share prices decline, and how long-term investors can identify opportunities when sentiment turns negative. The conversation also examines the powerful role emotions play in investing, the behavioural biases that influence decision-making, and why successful value investing often requires going against natural instincts.Whether you're a seasoned investor or simply interested in how professionals navigate market uncertainty, this episode offers practical insights into discipline, objectivity and the importance of staying focused on fundamentals when markets become uncomfortable.Securities mentioned are for illustrative purposes only and do not constitute a recommendation or solicitation to buy or sell any particular security. Hosted on Acast. See acast.com/privacy for more information.

May 14, 202611 min

When markets get vicious: why long-term investors can profit from short-term markets

Markets are noisier, faster and more reactive than ever. But does short-term thinking create long-term opportunity?In this episode of A Value View from The Merchant’s Trust, lead manager Simon Gergel explores how modern markets have largely shifted away from individual stock picking towards momentum, passive flows and broad market positioning.Simon discusses how short-term behaviour, driven by hedge funds, basket trades and factor investing, can lead to sharp and sometimes ‘vicious’ price movements, with shares rising or falling regardless of their underlying long-term value.He explains why this environment can be uncomfortable for investors, but also why it creates opportunity. As markets focus more on short-term news and sentiment, long-term value can be overlooked, opening the door for disciplined investors to identify mispriced companies. Hosted on Acast. See acast.com/privacy for more information.

December 19, 202513 min

A Once-in-a-Generation Opportunity in UK Mid-Caps?

As the year draws to a close, the UK stock market presents a polarised picture, with a narrow band of large-cap stocks leading the way. But is the real story in the overlooked and undervalued mid-cap sector? In this episode of "A Value View," Portfolio Manager Simon Gergel joins host Jon Cronin to discuss what he feels could be a “once-in-a-generation opportunity” in UK mid-caps. Simon delves into the reasons behind the underperformance of these more domestically focused businesses and explains why he believes they now offer exceptional value. He shares his insights on specific sectors like real estate and housing, and reiterates the importance of The Merchants Trust’s value-driven, income-focused approach in a market captivated by a few high performers. Hosted on Acast. See acast.com/privacy for more information.

August 20, 202517 min

Valuation Over Sentiment: Merchants Trust’s Investment Discipline in Action

In this episode, Simon Gergel, Portfolio Manager at The Merchants Trust, discusses the trust’s unusually active first half of the year, with eight new stocks added to the portfolio. He explains the rationale behind recent disposals and acquisitions, and shares insights into how the team identifies undervalued opportunities in a volatile UK market. Hosted on Acast. See acast.com/privacy for more information.

June 10, 202516 min

Global shocks, local gains: Investing in a tariff-tangled world

In this episode of A Value View from the Merchants Trust, host Jon Cronin sits down with Portfolio Manager Simon Gergel to unpack the seismic shifts in the global economy triggered by President Trump’s 2025 tariff policies. From the ripple effects on US GDP and global trade to the implications for UK-listed companies and the Merchants Trust portfolio, this conversation offers timely insights for investors navigating uncertainty. Recently announcing 43 consecutive years of dividend growth, the Merchants Trust also demonstrates a measure of resilience in volatile markets. Hosted on Acast. See acast.com/privacy for more information.

March 12, 202513 min

Would you like small, medium, or large?

The old saying goes that ‘small is beautiful’. An increasing number of smaller and mid-sized UK firms are standing out and capturing interest. Simon and Jon discuss what’s driving the growth opportunities among small and mid-caps, where Simon is seeing opportunities in that space, and if he still sees ‘beauty’ in the larger firms in the market, the trust’s usual hunting ground. Hosted on Acast. See acast.com/privacy for more information.

February 7, 202510 min

Exciting times for UK Equities?

In contrast to many countries, the UK has entered a period of relative political stability. Simon Gergel describes how this is combining with other factors to signal a note of optimism for investors in the UK stock market. Simon and host Jon also discuss how Merchants has been positioned to try to capitalise. Hosted on Acast. See acast.com/privacy for more information.

October 16, 202412 min

From Interest Rates to Breakfast Plates

What’s in store for UK interest rates and investors as we approach year-end? In this 32nd episode of a Value View podcast, portfolio manager Simon Gergel shares his outlook and discusses the factors that had informed the investment case behind Whitbread, owner of Premier Inn. Listen in to find out if Premier Inn’s all-you-can-eat breakfast will stay on the menu. Hosted on Acast. See acast.com/privacy for more information.

August 6, 202416 min

With elections behind us, who holds the power?

Who holds the power: the government or the market? In this episode, Simon Gergel discusses the aftermath of the recent UK elections, marked by a significant Labour victory. He explores the market response and highlights where opportunities are being found today. Listen in now to find out more about the impact of a new government and what it means for investors. Hosted on Acast. See acast.com/privacy for more information.

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