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In the Company of Mavericks

In the Company of Mavericks

Hosted by Jeremy McKeown

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141

Latest episode

Jun 2026

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EN

About the show

A podcast where we help serious active investors navigate market volatility, protect capital, and uncover new ways to confidently grow wealth in these radically uncertain times.

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60 recent
June 8, 202650 min

Investing in Humanoid Robotics - Has China Already Won?

Jeremy speaks with Echo Yin, founder and portfolio manager at Varis Partners, fresh from factory visits across the US and Chinese robotics ecosystems. Echo brings an engineer's eye and investor's discipline to one of the most consequential technology races of our time.They cover why China's global export share has risen despite trade war headwinds, what deflation feels like on the ground in Shanghai, and why the "China is uninvestable" consensus was itself the opportunity. The conversation moves into physical AI and humanoid robotics — where the US still leads on the brain side, but China dominates the hardware and supply chain — and why Echo is backing component suppliers over OEMs at this stage of the cycle. The core holding, Sanhua, illustrates the thesis: a proven electromechanical manufacturer extending its moat into robotics actuators as a key Tesla supplier.Echo also reflects on the trillion-fold growth in AI compute since 2010, what deflation means for corporate decision-making, how China's consumer preferences are shifting, and why the countries that combine labour, talent, automation, and engineering will define the next era of economic development.Brought to you by Progressive Equity Sponsored by Finance Talking, for your financial communications training needs. This podcast explores stocks, markets, and capital, examines the role of gold in finance, unpacks tax policy and economics, discusses pathways to financial freedom and retirement, explains how interest rates affect investing, features insights from financial advisers, analyzes inflation, recession, and market volatility, covers the actions of central banks, evaluates different assets, addresses inheritance planning, reviews portfolio construction with bonds and an isa, assesses long-term returns and allocation strategies, explores macro trends, and helps listeners understand risk and pensions.This podcast explores stocks, markets, and capital, examines the role of gold in finance, unpacks tax policy and economics, discusses pathways to financial freedom and retirement, explains how interest rates affect investing, features insights from financial advisers, analyzes inflation, recession, and market volatility, covers the actions of central banks, evaluates different assets, addresses inheritance planning, reviews portfolio construction with bonds and an isa, assesses long-term returns and allocation strategies, explores macro trends, and helps listeners understand risk and pensions.

June 6, 202620 min

Did the AI Look-Through Trade Just Crack? A HyperNormal Situation Report

Brought to you by Progressive EquityEpisode sponsor Finance TalkingDid the AI Look-Through Trade Just Crack?Broadcom beat consensus but dropped 13% on after-hours trading. CrowdStrike fell 10%. The Kospi crashed 7% intraday on Friday. The bar for AI stocks has moved beyond the trajectory — and the marginal buyer is starting to notice.Jeremy walks through six interconnected stories shaping the next phase of markets:— Why Broadcom's "miss" of less than 0.4% triggered a global tech selloff, even good numbers are no longer enough— Hezbollah's rejection of the US-brokered Lebanon ceasefire and what the Hormuz dark-tanker dynamic means for sustained $100+ oil— The Fed's openly hawkish pivot from Daly and Schmid ahead of Kevin Warsh's first FOMC on June 16-17— The 1997-echo currency stress across Korea, Indonesia, the Philippines, India and Japan — and why China is emerging as the regional safe haven— SpaceX's $1.75 trillion IPO on June 12, S&P Dow Jones refusing to bend index rules, and what the inelastic markets hypothesis means for the AI-IPO supercycle— Why private credit underwriting standards are tightening and what that signals about late-cycle leverageJeremy closes with four themes for the coming weeks: the AI guidance trajectory, the Fed pivot, the structural energy regime, and the IPO supply event. Position for volatility. Reduce concentration in mega-cap tech. Watch the dollar against the yen and the rupee. Don't fall for the diplomatic theatre.Catalyst calendar: ECB rate decision (June 11) | SpaceX IPO debut (June 12) | FOMC + BoJ meetings (June 16-17) | Makerfield by-election (June 18) | US core PCE (June 25)Mentioned in this episode: Broadcom, CrowdStrike, Nvidia, SpaceX, Anthropic, OpenAI, Cliffwater, Partners Group, Blackstone | Mary Daly, Jeff Schmid, Isabel Schnabel, Kevin Warsh | The inelastic markets hypothesis (Gabaix & Koijen), Rob Arnott & Lillian Wu on passive distortionFind Jeremy at: HyperNormalTimes on SubstackThis podcast explores stocks, markets, and capital, examines the role of gold in finance, unpacks tax policy and economics, discusses pathways to financial freedom and retirement, explains how interest rates affect investing, features insights from financial advisers, analyzes inflation, recession, and market volatility, covers the actions of central banks, evaluates different assets, addresses inheritance planning, reviews portfolio construction with bonds and an isa, assesses long-term returns and allocation strategies, explores macro trends, and helps listeners understand risk and pensions.

May 29, 202638 min

Becoming a Fund Manager From Academy to Allocator - Jamie & Henry from Ennismore discuss how to find investment ideas

In this episode, Jeremy is joined by David Seaman for a conversation with Henry Rayner and Jamie Hartley, two fund managers at Ennismore, about how they've developed their craft as small-cap investors through the firm's Academy programme.We discuss:How the Ennismore Academy throws new joiners into pitching their own ideas from week one, and why that builds the muscle for genuine idea generationThe transition from mechanical screens to lateral thinking, and why building a "bank of companies" takes yearsUseful jumping-off points beyond valuation screens: insider buying, special situations, spinoffsDecomposing expected returns into free cash flow yield, earnings growth, and reratingWhy South Korea may be where Japan was three years ago — and how reforms under the new administration are driving genuine governance changeHenry's thesis on Saramin, a Korean job classifieds business trading below its net cash balanceThe post-COVID biopharma destocking cycle and why sell-side models missed the bullwhip effectJamie's positions in Spirax (Watson Marlow, steam solutions) and Sotera HealthPortfolio construction in a multi-manager model and why uncorrelated theses matterUsing AI to steel-man investment thesesWhether you're a professional investor, a private investor looking to deepen your craft, or someone curious about how young fund managers learn the trade, this conversation offers a window into the discipline, patience, and lateral thinking that go into small-cap investing.Brought to you by Progressive EquityEpisode sponsor Finance TalkingDisclaimer: The podcast and the information, statements, opinions, interpretations and beliefs contained in it are those of the participants and are provided in good faith, but no representation or warranty, either expressed or implied, is provided in relation to their accuracy, completeness or reliability, and no person shall be entitled to place any reliance on the views and opinions expressed. The information provided is not intended to be, nor should it be construed as, investment, financial, tax or legal advice, or a recommendation to buy, sell or hold any security or other investment or pursue any investment strategy. Neither the podcast nor any of the information discussed constitutes an inducement, offer or solicitation to purchase or sell any securities.small-cap investing, Ennismore fund managers, South Korea value investing, biopharma destocking cycle, net cash balance sheet investing, margin of safetyThis podcast explores stocks, markets, and capital, examines the role of gold in finance, unpacks tax policy and economics, discusses pathways to financial freedom and retirement, explains how interest rates affect investing, features insights from financial advisers, analyzes inflation, recession, and market volatility, covers the actions of central banks, evaluates different assets, addresses inheritance planning, reviews portfolio construction with bonds and an isa, assesses long-term returns and allocation strategies, explores macro trends, and helps listeners understand risk and pensions.

May 23, 202620 min

Another Week Markets Chose to Believe: Bond Vigilantes Stand Down as AI CapEx Goes Parabolic - A HyperNormal Situation Report May 22nd

This week, the market told two stories and chose to believe the second. The first played out in the bond market. The second played out in technology.In this episode we unpack why the vigilantes won the week and then stood down, how Andy Burnham was forced to recant his economic platform without a single vote being cast, what NVIDIA's parabolic demand means for the AI CapEx broadening across Asia, why three trillion dollars of imminent listings will reshape portfolio allocation, and why Kevin Warsh's swearing-in at the White House sets up June 16 as the most consequential FOMC meeting in years. We also examine the K-shaped consumer split exposed by Walmart, the structural Hormuz toll question Iran is quietly institutionalising with Oman, and the gap between Rachel Reeves' price-cap proposals and operating reality on the British high street.Sponsored by Finance Talking and Brought to you by Progressive EquityFollow me at HyperNormalTimes on Substack. Primary: bond vigilantes, NVIDIA earnings, SpaceX IPO, Kevin Warsh Fed, AI CapEx, sovereign bond yields, 30-year Treasury, G7 finance ministers, Anthropic revenue, quantum computing CHIPS ActSecondary: Jensen Huang parabolic demand, KOSPI rally, SK Hynix, Andy Burnham fiscal rules, Rachel Reeves price cap, FOMC minutes, Yardeni Buzz Lightyear, Citi Lekovich sentiment, Buffett ratio, Strait of Hormuz tolls, Iran Oman, Walmart K-shaped consumer, University of Michigan sentiment, IPO super cycle, OpenAI IPOLong-tail / search: why did bond yields fall on hawkish Fed minutes, what does NVIDIA Q1 2026 earnings mean for AI cycle, SpaceX IPO valuation $2 trillion, Kevin Warsh Fed chair June FOMC, Iran Hormuz toll system explained, K-shaped economy retail earnings, three trillion IPO super cycle equity allocationThis podcast explores stocks, markets, and capital, examines the role of gold in finance, unpacks tax policy and economics, discusses pathways to financial freedom and retirement, explains how interest rates affect investing, features insights from financial advisers, analyzes inflation, recession, and market volatility, covers the actions of central banks, evaluates different assets, addresses inheritance planning, reviews portfolio construction with bonds and an isa, assesses long-term returns and allocation strategies, explores macro trends, and helps listeners understand risk and pensions.

May 20, 202641 min

The Maverick Taking on Nationwide: James Sherwin-Smith & Why Every Member Should Exercise Their Democratic Right to Vote

For the first time in 21 years, Nationwide Building Society members will see a genuine choice on their AGM ballot paper. Jeremy McKeown sits down with James Sherwin-Smith, fintech executive, former MasterCard senior leader, and Oliver Wyman strategist, who is standing as the first member-nominated candidate for the Nationwide board since 2005.In this episode, James reveals what it actually takes to challenge the UK's largest building society: an FCA hearing, 350 hand-collected paper nomination forms, and a year-long battle over access to the member register. We explore why the Virgin Money acquisition went through without a member vote, why mutuals matter for everyone (not just their customers), and what every Nationwide member needs to know before ballots land in June ahead of the AGM on 15 July.Whether you're a Nationwide member, a building society customer, or simply interested in corporate governance and financial democracy, this conversation exposes a quiet erosion of member rights and what one maverick is doing about it.What You'll LearnWhy Nationwide's acquisition of Virgin Money never went to a member vote — and what it revealed about the society's governanceHow the "quick vote" box on Nationwide's ballot steers c. 85% of votes straight to the board's recommendationThe story behind James's FCA hearing (the first in 30 years) and his statutory fight for access to the member registerWhy the bar for member nominations was raised five times higher in 2000 — and what that means for democracy in mutualsHow a strong mutual sector keeps the wider banking market honest (and why mutuals didn't need bailing out in 2008)Why virtual-only AGMs are bad for member accountabilityThe difference between member ownership in theory and in practice at a £300bn institutionWhat every Nationwide member should do when their ballot arrives in JuneLinks & ResourcesJames's campaign website: james4nationwide.co.ukConnect with James on LinkedInJeremy on Substack: Hypernormal TimesEmail Jeremy: jeremymckeown@gmail.comSponsor: Progressive EquityTraining partner: Finance TalkingNationwide Building Society, Nationwide AGM 2026, James Sherwin Smith, member-nominated director, building society governance, Virgin Money acquisition, UK mutuals, mutual building society, corporate governance, FCA, financial democracy, member voting rights, Nationwide ballot, quick vote, cooperative banking, retail banking UK, Jeremy McKeown, In the Company of Mavericks

May 16, 202614 min

Running On Empty, Running Blind - HyperNormal Situation Report May 15th

Markets at all-time highs. A closed strait. The hottest inflation prints in years. The UK government is hanging by a thread. A US-China summit that resolved precisely nothing. We ask the only question that matters right now: how long can you keep running on empty?This week's episode covers six themes that are all pointing in the same direction.What We Cover1. The Global Equity Market ParadoxThe S&P 500, NASDAQ, and Philadelphia Semiconductor Index are at or near all-time highs. Oil is at $107. PPI is at a three-year high. The TACO trade (Trump Always Chickens Out) has been embarrassingly profitable — but a new Tex-Mex metaphor has entered the chat: NACHO. Not Any Chance Hormuz Opens. Michael Green warns the equity bid is structural, not rational — and when that unwinds, there are no conventional warning signs.2. Oil Inventory Maths — The Runway Is Running OutThe IEA reports global stockpiles fell 250 million barrels in March and April alone. JP Morgan's note — The Illusion of Plenty — puts OECD inventories at operational stress levels by early June and operational floor levels by September. Capital Economics sees $130–$140/barrel as the base case if Hormuz stays shut. And even a reopening tomorrow can't fix things fast enough — mine clearance, vessel redeployment, infrastructure repair: minimum two to three months.The canary in the coal mine turned out to be in Havana. Cuba ran out of fuel entirely. The energy minister's quote: "We have absolutely no fuel oil. We have absolutely no diesel." That's the Hormuz crisis on a human scale.3. Inflation is No Longer Just About Energy US CPI: 3.8% year-on-year. PPI: 6%, the highest since December 2022. Truck freight costs up 8.1% — the biggest jump since 2009. Services inflation up 1.2% in a single month. Real average hourly earnings have turned negative for the first time since April 2023. The Bank of England's Megan Greene: "Inflation risks are entirely on the upside." The second-round effects are now landing. Global bond yields are at one-year highs.4. Kevin Warsh's Impossible New JobConfirmed 54–45 — the narrowest Senate margin since Fed chair confirmation became required in 1977. For context: Powell got 84, Yellen got 56. Warsh scraped through. On his first day as chair-elect, PPI printed at 6%. CME FedWatch now prices a 30% chance of a rate hike by year-end. His first FOMC meeting: June 16th. It may be the most consequential since Volcker walked in on August 14th, 1979. We know how that one ended.5. The UK: Where the Bond Market Is the GovernmentLabour lost nearly 1,500 council seats. Reform took 1,451 of them. Gordon Brown turned up — and when Gordon Brown is the answer, someone is asking the wrong question. Wes Streeting walked into Downing Street. 94 MPs publicly called for Starmer to go. Andy Burnham booked his return ticket. The pound had its worst week since November 2024. The 30-year gilt sits near 5.7% — above every developed world peer. Bloomberg Economics estimates the May yield move alone adds £2 billion to the UK debt interest bill. Gilt traders are underweight. The market is now pricing the worst-case scenario for bonds — and Andy Burnham is it.6. The Summit That Resolved NothingYMCA played at the state banquet. Xi promised Trump rose seeds. Jensen Huang boarded Air Force One in Alaska. Boeing was promised 200 jets — the market expected 500; Boeing fell 4%. Xi made clear Taiwan is the most important issue in US-China relations and that independence is "fundamentally incompatible with peace." Trump didn't answer when asked about it. The $14 billion arms package for Taipei remains unsigned. China called the Iran conflict one that "should never have happened" — diplomatic code for neutrality, unless major concessions materialise elsewhere. Like Taiwan, perhaps.As Gerard Baker put it in The Times, this is the first time in nearly a century that an American president met another power's leader on equal terms. Trump came seeking help, not making demands.The Bottom LineInflation has moved beyond energy into services and freight. The UK bond market is delivering daily verdicts on a government in freefall. Oil inventory maths has weeks of runway left. The summit didn't deliver on Iran. Hormuz is being normalised under Iranian control — not reopened. Equities are at records. Something is going to break. The question is what, when, and whether Kevin Warsh has any idea what's walking toward him on June 16th.Jackson Browne told us in 1977: "I'm running on empty, and I'm running blind."People & Institutions ReferencedMichael Green · Michael Burry · Jensen Huang · Kevin Warsh · Paul Volcker · Keir Starmer · Andy Burnham · Wes Streeting · Angela Rayner · Gordon Brown · Kemi Badenoch · Nigel Farage · Megan Greene (Bank of England) · Jim Lee (EIU) · Gerard Baker · Donald Trump · Xi Jinping · Saudi Aramco CEO · JP Morgan · IEA · Capital Economics · CME FedWatch · TD Securities · Morgan Stanley · Bloomberg EconomicsSponsorFinance Talking — specialist financial training for capital markets, business finance, and communications. Clients include Rio Tinto, HSBC, Unilever, and Shell. Virtual, in-person, and e-learning options available. Please tell them Jeremy sent you.Brought to you by Progressive Equity.Keywordsoil price crisis · Strait of Hormuz · US inflation CPI PPI 2025 · Kevin Warsh Federal Reserve · UK gilt crisis · UK Labour leadership crisis · Andy Burnham · Trump Xi summit Beijing · equity market all-time highs · TACO trade NACHO trade · Michael Green passive investing · oil inventory IEA · Jackson Browne running on empty · macro investing podcast · active investor podcast · capital markets 2025Subscribe & FollowIn the Company of Mavericks — helping serious active investors navigate market volatility, protect capital, and find new ways to grow wealth in radically uncertain times.⚠️ Nothing in this episode constitutes investment advice. For information and entertainment only. You are responsible for your own financial decisions.

May 14, 202648 min

The Silent Crisis of Financial Literacy with Andrew Craig & Josh Sanford - A Younger Person's Guide to Money & Investing

In this episode of In The Company of Mavericks, we tackle the most requested topic since the podcast launched: the fundamentals of money and investing, and how to introduce these vital concepts to children, grandchildren, and the next generation.Host Jeremy McKeown is joined by Andy Craig, founder of Plain English Finance and author of the bestselling book How to Own the World, alongside Josh Sandford, investment director at Dowgate Wealth, with two decades of experience guiding clients through market cycles.Whether you're a beginner investor, a parent wanting to teach your kids about money, or a seasoned investor revisiting first principles, this conversation delivers actionable insights on building long-term wealth, navigating volatility, and avoiding the most common investing mistakes.Episode Sponsor: Finance TalkingFinance Talking provides specialist financial training around capital markets, business finance, and communications, with virtual, in-person, and low-cost e-learning courses. Their clients include Rio Tinto, HSBC, Unilever, and Shell. Mention Jeremy when you get in touch.Visit Jeremy's Substack: HyperNormalTimes. What You'll Learn in This EpisodeWhy UK financial literacy lags behind international peers, and the £20 trillion opportunity costThe crucial difference between investing and trading (and why conflating them destroys wealth)How compound interest truly works, and why 60% of UK adults don't understand itThe main asset classes every investor should know: cash, bonds, equities, property, commodities, and precious metalsWhy asset allocation matters more than stock pickingThe "100 minus your age" rule (and why it should now be 120 minus your age)How to stay the course during market volatility and drawdownsThe truth about inflation, monetary debasement, and why nominal returns misleadGold, silver, and Bitcoin as inflation hedgesThe rise of passive investing and its structural risks for capital marketsWhether AI infrastructure spending signals a bubble or a cycleHow to think about buying property versus renting and investingWhy time is the young investor's greatest assetKey Takeaways1. Financial literacy is a silver bullet. Understanding how money and investing work dramatically increases your chances of building wealth over a lifetime.2. Investing is not trading. Investing harnesses real economic growth and human progress. Trading is largely a zero-sum game where 78–80% of retail participants lose money.3. Time is your greatest asset. Get rich slowly. £5,000 invested in a Junior ISA at birth, compounded at 10%, becomes £945,000 by retirement.4. Know the asset classes. Cash, bonds, equities, property, commodities, and precious metals each play a different role in a balanced portfolio.5. Asset allocation beats stock picking. Use the "120 minus your age" heuristic to balance defensive and aggressive holdings.6. Risk is not just volatility. The risk of doing nothing — sitting in cash and losing purchasing power to inflation — is often greater.7. Think in real terms, not nominal. Monetary debasement is the real story behind asset price inflation.8. Ignore the noise. The average equity investor underperforms the market by about 700 basis points because they react to news. Main Street is not Wall Street.9. Property: think in decades. Don't fall for FOMO. Compare rental yields, salary multiples, and opportunity costs before buying.10. Stay the course. Pound-cost average, diversify, and let compounding do the heavy lifting.About the GuestsAndy Craig is the founder of Plain English Finance and author of How to Own the World, one of the UK's most popular personal finance books. After a 25-year career in the City, Andy now dedicates his work to improving financial literacy across the UK. Find him at plainenglishfinance.Josh Sandford is investment director at Dowgate Wealth with over 20 years of experience managing discretionary portfolios for high-net-worth individuals and pension funds. Books Mentioned in This EpisodeHow to Own the World — Andy CraigThe Psychology of Money — Morgan HouselRich Dad Poor Dad — Robert KiyosakiThe Ascent of Money — Niall FergusonMoney: A Story of Humanity — David McWilliamsBroken Money — Lyn AldenThe Secret History of Gold — Dominic FrisbySimple but Not Easy — Richard OldfieldKeywords: financial literacy UK, how to start investing, investing for beginners, compound interest, asset allocation, ISA vs pension, passive investing risks, gold as inflation hedge, Bitcoin investing, teaching kids about money, Andy Craig How to Own the World, Plain English Finance, Galgate Wealth, Josh Sandford, Jeremy McEwen, In The Company of Mavericks podcast, UK personal finance, monetary debasement, real returns, S&P 500 ETF, generational wealth, stocks and shares ISA, get rich slowly, investing vs trading

May 8, 202640 min

OPEC is Over, China Has Won & The Emerging New World Order with Doomberg

In this episode, I talk to Doomberg following our last chat in early March, and he expands on his thoughts that the Iran War was a catastrophic error with significant strategic consequences for the World.As usual, Doomberg doesn't hold back. China has entered the chat just as the UAE has exited OPEC, putting the instability among the Gulf countries and the broader Middle East into perspective.Despite the demands of the AI hyperscalers, the world is fundamentally long on hydrocarbons, and what the events of the last 10 weeks have demonstrated is that the constraint on energy supply is political, not geological.Brought to you by Progressive Equity & Finance Talking.

May 4, 202617 min

The Gap Between the Strait & the Tape - A HyperNormal Situation Report

Seven tankers transited the Strait of Hormuz this week, against a pre-war baseline of 140. The world's most important oil choke point is running at 5% capacity. So why did the S&P 500 just post its best April since 2020?Jeremy McKeown walks through the four stories driving markets right now: an energy shock, a bond market in revolt, a fracturing monetary order, and the deepest institutional crisis at the Fed in modern history, and the AI CapEx cycle holding it all together.In this episode:– Brent at $126, LNG up 61%, and Goldman's warning on non-linear price spikes – Why BlackRock says the 60/40 portfolio is broken – The UAE quits OPEC and asks the Fed for a dollar swap line — while quietly talking to Beijing – Saudi Arabia, the petrodollar, and the day the yuan settles oil – Four FOMC dissenters, the most since 1992, and Powell breaking 75 years of precedent – Kevin Warsh arrives on record wanting to cut into a supply shock – Coordinated hawkishness from the ECB, BoE, and BoJ — with the yen approaching 160 – The $670bn AI CapEx engine — bigger than Sweden's GDP — holding the tape up – Why Meta sold off 7% on a beat-and-raise – Picks and shovels vs. the hyperscalers: where the asymmetry sits nowThree things to watch: the Hormuz tanker count, the ECB on June 11th, and whether Tokyo defends the yen at 160.A brief on a market climbing a wall of worry that gets taller every day.For deeper analysis between episodes, subscribe to Jeremy's Substack, HyperNormalTimes.Brought to you by Progressive Equity & partner: Finance Talking — capital markets and business finance training, trusted by Rio Tinto, HSBC, Unilever, and Shell.The views expressed are for information and entertainment only, not financial advice.

May 1, 202638 min

Beer is the best lubricant mankind has found in 7,000 years with Jonathan Neame & How Brtiain's oldest brewer has survived by bloodymindedness and 450 years of adaptation

Shepherd Neame has been brewing beer on the same site in Faversham, Kent, since 1573. That's before Shakespeare. Before the King James Bible. Before anyone called a pub a pub. It has survived two World Wars, the Temperance Movement, the craft beer revolution, a very public family falling-out, and a pandemic that shut down every pub in Britain overnight.Jonathan Neame is the fifth-generation CEO, a qualified barrister, a former management consultant, and a man who once swore he would never work for his father. He changed his mind. In this conversation, Jeremy McKeown talks to Jonathan about family governance and succession, the economics of the British pub, why three pubs are closing every day in the UK right now, and what the government could do tomorrow to stop it. They also get into the craft beer revolution, the bifurcation between London and rural pub markets, and what it means to run a nearly 500-year-old business on a site where James Watt installed his second-ever steam engine in 1789.Jonathan's answer to why Shepherd Neame has survived while almost everyone else hasn't: they're not in the alcohol business. They're in the socialising business. Beer is just the best lubricant mankind has come up with in 7,000 years.Guest: Jonathan Neame, CEO, Shepherd NeameSponsored by: Progressive Equity & Finance Talking

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