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.

Three things you should learn from Bill Ackman's brilliant Netflix trade
Investment strategy

Three things you should learn from Bill Ackman's brilliant Netflix trade

Hedge fund guru Bill Ackman has lost $400m selling Netflix shares. John Stepek explains why this was a brilliant trade, and outlines three things that…
19 May 2022
Inflation is now at its highest since 1982 – is this the peak?
Inflation

Inflation is now at its highest since 1982 – is this the peak?

At 9%, UK inflation is at its highest for 40 years – and it’s not going anywhere soon, says John Stepek. That means you need to be much more active a…
18 May 2022
The UK jobs market is still red hot – but will it last?
UK Economy

The UK jobs market is still red hot – but will it last?

For the first time ever, there are more job vacancies than people to fill them, and wages are rising at a decent clip. But that might just be a tempor…
17 May 2022
Why has the Terra stablecoin broken its US dollar peg and should you care?
Bitcoin & crypto

Why has the Terra stablecoin broken its US dollar peg and should you care?

The Terra stablecoin is supposed to match the value of the US dollar – but its value has crashed. John Stepek explains what it means for you and your …
10 May 2022
The return of the currency wars
Currencies

The return of the currency wars

The post-2008 currency wars were all about the race to the bottom. The post-Covid world is very different, says John Stepek.
10 May 2022
The market is adjusting to a new “short dreams, long reality” world
Stockmarkets

The market is adjusting to a new “short dreams, long reality” world

As interest rates rise, things are starting to change, says John Stepek. Reality is biting back. Gone are the fanciful ideas built on hope – a busines…
9 May 2022
The pound slides as the Bank of England warns of stagflation
UK Economy

The pound slides as the Bank of England warns of stagflation

The Bank of England raised UK interest rates and warned of soaring inflation and a collapse in economic growth. John Stepek explains what it means for…
5 May 2022
Here’s why markets welcomed America’s big interest rate rise
Stockmarkets

Here’s why markets welcomed America’s big interest rate rise

The US Federal Reserve raised interest rates by half a percentage point – the biggest hike in 20 years. So why did markets rise? John Stepek explains …
5 May 2022
Are UK house prices heading for a fall?
House prices

Are UK house prices heading for a fall?

UK house-price growth is slowing as interest rates rise. But interest rates aren’t all that matters for house prices, says John Stepek.
3 May 2022
China’s currency is falling – the last time it did this, markets crashed
Currencies

China’s currency is falling – the last time it did this, markets crashed

China’s currency, the yuan, has seen its biggest drop since 2015. And with a slowing economy, it won't be raising interest rates. John Stepek explains…
26 Apr 2022
The pound is falling hard – is a UK recession on the cards?
UK Economy

The pound is falling hard – is a UK recession on the cards?

The pound has tanked against the US dollar as markets grow increasingly concerned about a recession in the UK. John Stepek asks if anything can save u…
25 Apr 2022
Netflix share price collapse: what it says about markets today
Growth stocks

Netflix share price collapse: what it says about markets today

Netflix's share price has collapsed after it reported its first fall in subscribers in a decade. John Stepek explains what it says about the “build it…
20 Apr 2022
The bond bubble has burst – what comes next?
Government bonds

The bond bubble has burst – what comes next?

Investors in government debt have seen some of their biggest ever losses as the bond bubble bursts. John Stepek explains what’s going on and asks what…
19 Apr 2022
The UK's inflation figures are awful – and the worst is yet to come
Inflation

The UK's inflation figures are awful – and the worst is yet to come

UK inflation has hit yet another 30-year high, and we still haven’t hit the peak. This string of nasty surprises puts even more pressure on the Bank o…
13 Apr 2022
Is the UK too open to overseas takeovers?
UK Economy

Is the UK too open to overseas takeovers?

Data shows that the UK is more open to overseas takeovers than other major markets. John Stepek asks: should investors care?
11 Apr 2022
How to invest in an environment of rising inflation and unpredictable central bank policy
Inflation

How to invest in an environment of rising inflation and unpredictable central bank policy

This week central banker Lael Brainard - a long-term dove - rattled markets by suggesting America's Federal Reserve will unwind quantitative easing fa…
9 Apr 2022
Does Russia's move to price energy in roubles threaten the US dollar?
Currencies

Does Russia's move to price energy in roubles threaten the US dollar?

Russia is no longer accepting dollars as payment for its energy. Could this threaten the dollar’s status as global reserve currency? John Stepek is no…
5 Apr 2022
Why Amazon is splitting its shares
Stockmarkets

Why Amazon is splitting its shares

Slicing a cake into more pieces doesn’t give you more cake. So why is Amazon dividing its shares by 20?
4 Apr 2022
The FTSE 100 is doing moderately well – can this continue?
UK stockmarkets

The FTSE 100 is doing moderately well – can this continue?

The FTSE 100 performed well and better than expected in the first quarter of 2022. John Stepek looks at what has changed.
4 Apr 2022
What went wrong for Barclays with its £450m structured notes loss?
Investment strategy

What went wrong for Barclays with its £450m structured notes loss?

Barclays has just revealed that it’ll have to shell out nearly half a billion for a failure to fill in the right form. John Stepek explains what went …
4 Apr 2022
The cost of living crisis just got worse – happy Bleak Friday
Investment strategy

The cost of living crisis just got worse – happy Bleak Friday

Today is "Bleak Friday", when your energy bill goes up along with big rises for council tax, food and petrol. There's no easy solution to the cost of …
1 Apr 2022
UK house prices are rising at the fastest rate in 17 years. How?!
House prices

UK house prices are rising at the fastest rate in 17 years. How?!

House prices are rising at over 14% a year – the highest annual growth rate since 2004. John Stepek explains why and asks: will UK house prices crash …
31 Mar 2022
Will there be a recession this year?
UK Economy

Will there be a recession this year?

With household finances getting squeezed hard, the UK's consumption-led economy could be heading for a recession. John Stepek looks at what could go w…
29 Mar 2022
What the collapse in the yen and surging bond yields have in common
Government bonds

What the collapse in the yen and surging bond yields have in common

As bond yields surge, the Japanese yen – often seen as a “safe haven” investment – is falling in value. And that’s confusing investors. John Stepek ex…
28 Mar 2022
Yield curve fear is back
Government bonds

Yield curve fear is back

One of the most reliable recession indicators in markets is starting to flash red. Investors should beware
28 Mar 2022
Larry Fink is wrong – globalisation peaked a while ago. But what happens now?
Global Economy

Larry Fink is wrong – globalisation peaked a while ago. But what happens now?

Larry Fink, CEO of BlackRock, says Russia's invasion of Ukraine has prompted the end of globalisation. But he's wrong, says John Stepek. It's just one…
25 Mar 2022
How to manage your money as inflation just keeps rising
Inflation

How to manage your money as inflation just keeps rising

Uk inflation is at a 30-year high – and it won't be falling any time soon. So what can you do? John Stepek explains how to manage your money to combat…
23 Mar 2022
Who will pay for the cost of living crisis?
UK Economy

Who will pay for the cost of living crisis?

The cost of living is rising fast. You may be expecting the chancellor to use his spring Budget to help ease it. But you’re likely to be disappointed,…
21 Mar 2022
The Bank of England has raised interest rates – but with some reluctance
UK Economy

The Bank of England has raised interest rates – but with some reluctance

As expected, the Bank of England raised interest rates yesterday – but not with any enthusiasm. John Stepek explains why, and what rising rates mean f…
18 Mar 2022
The stockmarket rebound has nothing to do with Ukraine or the Federal Reserve
Stockmarkets

The stockmarket rebound has nothing to do with Ukraine or the Federal Reserve

Stockmarkets bounced yesterday after the Fed raised interest rates and hopes of peace in Ukraine rose. But more relevant was what happened in China. J…
17 Mar 2022
How to invest in Latin America: the emerging market that’s had a surprisingly good year
Emerging markets

How to invest in Latin America: the emerging market that’s had a surprisingly good year

Latin American stocks have done well this year while markets elsewhere have struggled. John Stepek looks at the region's performance and picks the bes…
14 Mar 2022
Russia has become uninvestable
Investment strategy

Russia has become uninvestable

Geopolitics can create opportunities – but there are times when discretion is the better part of valour.
14 Mar 2022
Mining stocks have been great investments this year – but is it time to sell?
Commodities

Mining stocks have been great investments this year – but is it time to sell?

Markets have not had a good start to 2022 – with the exception of mining stocks. John Stepek asks if the sector has further to go, or if you should ta…
11 Mar 2022
Pricing Armageddon: what should investors do faced with nuclear war?
Investment strategy

Pricing Armageddon: what should investors do faced with nuclear war?

The war in Ukraine has left investment analysts pondering how to put a price on existential risks.
11 Mar 2022
Stockmarkets bounced strongly yesterday – have we been saved from a bear market?
Stockmarkets

Stockmarkets bounced strongly yesterday – have we been saved from a bear market?

Stockmarkets rose sharply yesterday after suffering big falls in recent weeks – but that doesn’t mean we've hit a bottom, says John Stepek. Here’s wha…
10 Mar 2022
Why has the nickel price trebled since Monday?
Industrial metals

Why has the nickel price trebled since Monday?

The price of nickel has risen by 250% this week to over $100,000 a ton. John Stepek explains what's going on and how it might affect you.
8 Mar 2022