Economists have spent half a century building elegant models of how markets work, and the markets have spent half a century ignoring them. We investigate the great unsolved mysteries of investing.

And in the Dumb Question of the Week: If nobody can explain why stocks beat bonds, why are we confident they’ll keep doing it?

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Thank you to Raisin UK for sponsoring this episode.

Receive a £100 welcome bonus when you register for a Raisin UK account using the code JULY100, open a fixed-rate bond with a term of 1 year or longer and deposit a minimum of £25,000 by 31 July 2026.

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Disclaimer

This podcast is for informational and entertainment purposes and is not financial advice. We do not provide recommendations or endorse any decision to buy, sell or hold any security. We cannot be held responsible for any actions listeners may take and investors are encouraged to seek independent financial advice.

Copyright 2026 Many Happy Returns

Beta Noire: Unsolved Mysteries of the Market

Many Happy Returns

Beta Noire: Unsolved Mysteries of the Market