Behind the Balance Sheet

Ranking history

About the show

Latest episodes

• #63 - The Fool: David Gardner explains his philosophy of buying stocks at high valuations after they have gone up a lot

  September 17, 2026 · 1 hr 22 min

  David Gardner is the co-founder of The Motley Fool and author of Rule Breaker Investing. He has built an amazing investing record by questioning conventional wisdom and applying his own logic to research. He operates on a principle…

• #62 - The Gentleman Activist: Alex Roepers explains how he extracts better stock performance from overlooked mid-caps

  August 20, 2026 · 1 hr 23 min

  Alex Roepers is a concentrated deep value investor who takes a behind the scenes activist approach. Here he explains the strategy which he has exploited over the past near-35 years to outperform the S&P by delivering a 12.3% pa or a 48x…

• #61 - Mr Common Sense - Rich Pzena on how to build an $80bn deep value firm, survive 60% underperformance and buy stocks on under 10x normalised earnings.

  July 16, 2026 · 1 hr 26 min

  Rich Pzena, founder of $80bn AUM Pzena Investment Management, explains his value investing philosophy and how he built a deep value franchise by buying good businesses when they are deeply out of favour. He talks through recreating…

• #60 - The Plumber Returns - James Aitken on Japan, Kevin Warsh, gold, AI and inflation.

  June 18, 2026 · 1 hr 36 min

  James Aitken, macro strategist to the world’s largest and most successful investors, takes Steve on a tour of the key themes in global finance today. You will learn why James is interested in Japan, his views on the new Fed Chair and why…

• #59 The "Permabear" - Jeremy Grantham on why he expects a market crash, navigating bubbles and giving away $1bn

  May 21, 2026 · 1 hr 28 min

  Jeremy Grantham is known as a permabear and an expert on bubbles so you should not be surprised that he sees an AI-induced bubble today and thinks the market will fall by 50%. He points out that at peaks you always have high multiples…

• #58 The Chart Guy - $4tn CIO Michael Cembalest on markets, AI and the impending rout in US Treasuries

  April 16, 2026 · 56 min

  Michael Cembalest chairs the Market and Investment Strategy group at JP Morgan Asset and Wealth Management and effectively oversees $4tn AUM. He is responsible for market and investment insights across the asset management business and has…

• #57 The Behavioural Scientist - Rory Sutherland on Marketing, What Analysts Miss and Behavioural Economics

  March 22, 2026 · 1 hr 49 min

  Rory Sutherland is the Vice Chairman of advertising giant Ogilvy UK, a behavioural scientist, TED speaker, organiser of the Nudgestock conference and so much more. Most important, he is one of the most original thinkers around. In this…

• #56 The Sculptor - Jonathan Tepper on 16 Stock Portfolios, Moats & Buying Oligopolies

  March 13, 2026 · 1 hr 3 min

  The title “The Sculptor” is a play on a quote “every man can be the sculptor of his own mind”, as Jonathan Tepper is uniquely self-educated. Brought up in the slums of San Blas in Madrid, partly home-schooled, he made it to Oxford as a…