AUTHOR

John Stepek

John is the executive editor of MoneyWeek and writes our daily investment email, Money Morning. John graduated from Strathclyde University with a degree in psychology in 1996 and has always been fascinated by the gap between the way the market works in theory and the way it works in practice, and by how our deep-rooted instincts work against our best interests as investors.

He started out in journalism by writing articles about the specific business challenges facing family firms. In 2003, he took a job on the finance desk of Teletext, where he spent two years covering the markets and breaking financial news. John joined MoneyWeek in 2005.

His work has been published in Families in Business, Shares magazine, Spear's Magazine, The Sunday Times, and The Spectator among others. He has also appeared as an expert commentator on BBC Radio 4's Today programme, BBC Radio Scotland, Newsnight, Daily Politics and Bloomberg. His first book, on contrarian investing, The Sceptical Investor, was released in March 2019. You can follow John on Twitter at @john_stepek.

Markets believe that bankruptcy has been abolished – that’s not a good thing
Bonds

Markets believe that bankruptcy has been abolished – that’s not a good thing

The gap between corporate and government debt is collapsing, with investors demanding very little extra yield for taking on the risk of bankruptcy. T…
18 Jun 2021
The Fed springs a surprise on investors – are there more to come?
US Economy

The Fed springs a surprise on investors – are there more to come?

The US Federal Reserve has turned more aggressive than expected on inflation, driving fears of an early interest-rate rise. John Stepek looks at what …
17 Jun 2021
Two of the biggest risks to the “Roaring 2020s” scenario
Global Economy

Two of the biggest risks to the “Roaring 2020s” scenario

A lot of people – including us – are expecting an inflationary boom as we all emerge from lockdown to spend, spend, spend. But there are a couple of t…
15 Jun 2021
Will the Federal Reserve give markets a shock this week?
US Economy

Will the Federal Reserve give markets a shock this week?

With US inflation coming in higher than expected, markets are nervously awaiting the Federal Reserve’s response. John Stepek looks at what’s likely to…
14 Jun 2021
Why it’s vital to keep an eye on your costs when investing
Investment strategy

Why it’s vital to keep an eye on your costs when investing

Costs are one of the few aspects of investing that you have control over. Be sure to use that to your advantage, says John Stepek.
14 Jun 2021
US inflation is rising faster than anyone expected – but markets aren’t worried yet
Inflation

US inflation is rising faster than anyone expected – but markets aren’t worried yet

US inflation is at its highest in nearly 30 years. But markets are unfazed, banking on it being just a temporary blip. John Stepek isn’t so sure. Here…
11 Jun 2021
Bitcoin is now legal tender in El Salvador. Is this the start of something?
Bitcoin & crypto

Bitcoin is now legal tender in El Salvador. Is this the start of something?

El Salvador has become the first country in the world to make bitcoin legal tender. John Stepek explains why, and asks if other countries might do the…
10 Jun 2021
We shouldn’t let digital currencies kill off cash – here’s why
Bitcoin & crypto

We shouldn’t let digital currencies kill off cash – here’s why

Central banks are keen on implementing their own digital currencies. But the end of physical cash could give governments total control over how you sp…
8 Jun 2021
Why markets don’t really mind weak US employment data
US Economy

Why markets don’t really mind weak US employment data

The latest US employment data was worse than expected. And while the dollar took a knock, the stockmarket rallied. John Stepek explains why markets ar…
7 Jun 2021
What's driving the surge in food prices and what are the knock-on effects?
Inflation

What's driving the surge in food prices and what are the knock-on effects?

Data from the Food and Agriculture Organisation's (FAO) monthly food price index, shows prices in May were 40% higher compared to last year. John Ste…
4 Jun 2021
The biggest threat to crypto comes from stablecoins
Bitcoin & crypto

The biggest threat to crypto comes from stablecoins

Governments are increasingly getting worried about "stablecoins", cryptocurrencies which have a more "stable value". John Stepek explains what stablec…
3 Jun 2021
What oil majors' climate battles tell us about shareholder democracy
Commodities

What oil majors' climate battles tell us about shareholder democracy

Big oil has faced a tumultuous week with a number of defeats over their environmental practises. John Stepek breaks down what this means for the marke…
3 Jun 2021
AMC is a wildly overvalued joke – but it's good news for shareholder democracy
Investments

AMC is a wildly overvalued joke – but it's good news for shareholder democracy

AMC shares have exploded even as the company sold 8.5 million new shares to Mudrick Capital this week. John Stepek explains what's behind the stock's …
3 Jun 2021
The house price boom is looking dangerously like a bubble now
House prices

The house price boom is looking dangerously like a bubble now

UK house prices are looking dangerously expensive. John Stepek breaks down why it is rising and how higher inflation can derail the growth.
1 Jun 2021
Big oil is under pressure to cut production – what does that mean for investors?
Oil

Big oil is under pressure to cut production – what does that mean for investors?

Big oil majors including Royal Dutch Shell and Chevron are under pressure from institutional shareholders to reduce emissions. John Stepek looks at ho…
28 May 2021
Central banks are starting to raise rates – what does that mean for your money?
Inflation

Central banks are starting to raise rates – what does that mean for your money?

Central banks across the globe are starting to raise interest rates as inflation gathers pace. John Stepek explains what it means for your long-term p…
27 May 2021
Bitcoin’s crash wasn’t about Elon or China – it was about inflation
Bitcoin & crypto

Bitcoin’s crash wasn’t about Elon or China – it was about inflation

Bitcoin and the crypto market endured a sharp sell-off last week. John Stepek looks at what caused the plunge.
24 May 2021
The biggest long-term threat to bitcoin and cryptocurrencies
Bitcoin & crypto

The biggest long-term threat to bitcoin and cryptocurrencies

Cryptocurrencies have had a tough week, with bad news from China and Elon Musk's U-turn. But there’s a longer-term threat to their existence, says Joh…
21 May 2021
Inflation is here – and shifting politics means it's here to stay
Inflation

Inflation is here – and shifting politics means it's here to stay

Inflation has gone mainstream, and it’s something we’re going to have to get used to. That means a bumpy ride for your investments, says John Stepek. …
20 May 2021
We’re in another house price boom. How long will it last?
House prices

We’re in another house price boom. How long will it last?

UK house prices are in full-on boom mode again. And booms can last a lot longer than you might expect. John Stepek looks at what’s driving the current…
18 May 2021
US stocks look expensive – here’s what to own instead
Investment strategy

US stocks look expensive – here’s what to own instead

Right now, US stocks are among the most expensive in the world. So if you want a decent return on your investments, you should look into diversifying …
17 May 2021
Are we nearing the end of the negative bond yield era?
Government bonds

Are we nearing the end of the negative bond yield era?

As inflation gets going, the era of the negative bond yield – that investors have to pay governments for the privilege of lending them money – might b…
14 May 2021
Inflation is taking off in the US and markets really don’t like it
Inflation

Inflation is taking off in the US and markets really don’t like it

US inflation is at its highest for 25 years. Stockmarkets – and tech stocks in particular – have taken the news badly. John Stepek explains why, and w…
13 May 2021
Why woeful US jobs data might spell higher inflation in the near future
US Economy

Why woeful US jobs data might spell higher inflation in the near future

The latest US employment figures were much worse than expected. And that matters not just for the US economy, but for global markets too – and for inf…
10 May 2021
What is hyperinflation and could it happen here?
Inflation

What is hyperinflation and could it happen here?

The Bank of England has been accused of the kind of money-printing that could lead to Zimbabwe-style hyperinflation. But that's very unlikely to happe…
4 May 2021
Why higher capital gains taxes in the US might be bad news for bitcoin
Bitcoin & crypto

Why higher capital gains taxes in the US might be bad news for bitcoin

US president Joe Biden wants to significantly increase capital gains tax. That will have a knock-on effect on the markets, says John Stepek. And on bi…
23 Apr 2021
Vanguard's financial advice revolution
Investment strategy

Vanguard's financial advice revolution

Vanguard’s financial-planning product is transparent, cheap and low-hassle. The competition had better watch out
23 Apr 2021
House prices in the UK are still surging – here’s why it’ll probably continue
Property

House prices in the UK are still surging – here’s why it’ll probably continue

The latest UK house price data shows no letup in the country’s booming property market, with the biggest yearly rise since 2014. And there’s no end in…
22 Apr 2021
Why investment advice could be about to get a lot cheaper
Investment strategy

Why investment advice could be about to get a lot cheaper

Vanguard, the world’s second-biggest asset manager, is launching its own cut-price financial advice service. It’s something the industry badly needs, …
20 Apr 2021
The FTSE 100 has clawed back above 7,000 – how much higher can it go?
UK stockmarkets

The FTSE 100 has clawed back above 7,000 – how much higher can it go?

The FTSE 100 index has risen to over 7,000 for the first time in over a year – it now sits just above where it was in 1999. But its era of neglect cou…
19 Apr 2021
Why China’s bad bank has some investors rattled
Chinese economy

Why China’s bad bank has some investors rattled

A state-backed bank in China, created to clean up bad loans in the wake of the Asian financial crisis, is in trouble. And it might not be bailed out. …
16 Apr 2021
What does the Coinbase listing mean for bitcoin and other cryptocurrencies?
Bitcoin

What does the Coinbase listing mean for bitcoin and other cryptocurrencies?

As the bitcoin price hit new highs, the world's biggest cryptocurrency exchange, Coinbase, listed on the stockmarket. John Stepek looks at what that m…
15 Apr 2021
US inflation is rising – but it’s not enough to rattle markets yet
Inflation

US inflation is rising – but it’s not enough to rattle markets yet

The latest US inflation figures showed that consumer prices are rising more rapidly than expected. But markets shrugged. John Stepek asks why, and wha…
14 Apr 2021
Why all eyes will be on US inflation data this week
Inflation

Why all eyes will be on US inflation data this week

As the world comes out of lockdown and demand for goods and services rises, attention will shift to inflation and what it means for interest rates. Th…
12 Apr 2021
Nuclear power might never be popular – but now looks a good time to invest
Commodities

Nuclear power might never be popular – but now looks a good time to invest

Nuclear power gets a very bad press, but it is the ultimate renewable energy source. Interest in it is perking up again, says John Stepek. Which means…
9 Apr 2021
International tax competition is under threat – which stocks are most vulnerable?
Global Economy

International tax competition is under threat – which stocks are most vulnerable?

The idea of a global corporate tax regime is taking off, with the US proposing a sales tax on multinationals. John Stepek looks at which companies cou…
8 Apr 2021