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.

Our trade of the decade came good – what’s next?
Investment strategy

Our trade of the decade came good – what’s next?

Back in 2010 we said you should invest in unloved and undervalued Japanese stocks. If you had done that, you’d have made a nice return. So what should…
25 Feb 2021
Are we heading for another bond market tantrum?
Government bonds

Are we heading for another bond market tantrum?

The last time the US central bank tried tightening the purse strings, the bond markets threw a tantrum. With yields now rising, could we be about to s…
25 Feb 2021
Which assets do best when inflation is rising?
Inflation

Which assets do best when inflation is rising?

As markets look forward to a post-pandemic bounce, they’re also starting to worry about higher inflation. John Stepek looks at the best way to divers…
22 Feb 2021
Neil Woodford’s back – but sometimes sorry isn’t enough
Neil Woodford

Neil Woodford’s back – but sometimes sorry isn’t enough

Neil Woodford’s funds blew up in 2019. Now he is on the comeback trail. But his apologies are unconvincing.
19 Feb 2021
What rising interest rates and inflation will do to markets
Investment strategy

What rising interest rates and inflation will do to markets

As governments continue to stimulate their economies, investors are betting on a “V-shaped’ recovery and the return of inflation. John Stepek looks a…
19 Feb 2021
It's looking toppy out there – what could pop the market bubble?
Stockmarkets

It's looking toppy out there – what could pop the market bubble?

One of the most significant indicators of market sentiment is saying we could soon be heading for a fall. John Stepek looks at what might burst the ma…
17 Feb 2021
Is the oil price heading for $100 again?
Oil

Is the oil price heading for $100 again?

Not so very long ago, the oil price went negative. But in the last three months alone it’s risen by 50%. And while it may take the odd breather here a…
16 Feb 2021
Japanese stocks have hit a new milestone – one not seen since 1990
Japan stockmarkets

Japanese stocks have hit a new milestone – one not seen since 1990

The Nikkei 225 – Japan’s oldest stockmarket index – has finally hit 30,000 for the first time in 30 years. It’s just one more reason to invest in one…
15 Feb 2021
The charts that matter: Tesla buys bitcoin and commodities surge
Global Economy

The charts that matter: Tesla buys bitcoin and commodities surge

In a week when Elon Musk piled into bitcoin in a big way and commodities continued their rise, John Stepek looks at how that affects the charts that m…
13 Feb 2021
Why you don’t need to worry about the GDP figure, however ugly it is
UK Economy

Why you don’t need to worry about the GDP figure, however ugly it is

Last year, Britain saw the biggest drop in economic activity for 300 years. But as an investor, that doesn’t matter to you. John Stepek explains why –…
12 Feb 2021
There’s more to soaring commodity prices than the post-Covid rebound
Commodities

There’s more to soaring commodity prices than the post-Covid rebound

Commodity prices are bouncing back in anticipation of a post-Covid surge in demand. Add existing supply shortages and the threat of inflation, and the…
11 Feb 2021
Markets are starting to bet on inflation returning – you should too
Inflation

Markets are starting to bet on inflation returning – you should too

Markets are preparing not just for a post-Covid “reflation” trade, but for the return of inflation – and financial repression. John Stepek explains wh…
10 Feb 2021
Here’s why you need to take claims for ESG investing with a big pinch of salt
ESG investing

Here’s why you need to take claims for ESG investing with a big pinch of salt

Investing with environmental, social and corporate governance (ESG) issues in mind is all the rage, and fund managers are jumping on the bandwagon. Th…
8 Feb 2021
The charts that matter: GameStop, silver, vaccines, and swapping gold for bitcoin
Economy

The charts that matter: GameStop, silver, vaccines, and swapping gold for bitcoin

After a week with plenty to talk about, John Stepek looks at how the events of the last seven days have affected the charts that matter most to the gl…
6 Feb 2021
Negative interest rates are highly unlikely in the UK – that’s good news for this investment
Bank stocks

Negative interest rates are highly unlikely in the UK – that’s good news for this investment

The Bank of England has been mulling negative interest rates over for a while now. But it’s unlikely to impose them, says John Stepek, Here’s why, and…
5 Feb 2021
GameStop, short-sellers, Reddit rebels and Wall Street’s wonky plumbing
Investment strategy

GameStop, short-sellers, Reddit rebels and Wall Street’s wonky plumbing

What was the furore over US retailer GameStop really about? Is silver the next big social media-driven trade? And what does any of this mean for sensi…
5 Feb 2021
History suggests we can expect a rapid recovery once Covid is beaten
UK Economy

History suggests we can expect a rapid recovery once Covid is beaten

The current pandemic-induced economic crisis isn’t like the financial crisis of 2008. They are very different things, says John Stepek. And the recove…
4 Feb 2021
Inflation is the only thing that can burst this bubble
Inflation

Inflation is the only thing that can burst this bubble

Markets are back on the rise, with signs of a bubble everywhere. And there’s just one thing that can pop it, says John Stepek – inflation. Here’s why.
2 Feb 2021
The charts that matter: short-selling, silver and the return of bitcoin
Economy

The charts that matter: short-selling, silver and the return of bitcoin

As the online mob gets organised to move markets, John Stepek looks at how the charts that matter most to the global economy have fared this week.
30 Jan 2021
House prices in the UK's biggest cities might be set to follow rents lower
House prices

House prices in the UK's biggest cities might be set to follow rents lower

As people leave Britain's cities – whether city-dwellers upsizing to the country or foreign workers returning home – property rents have fallen hard. …
29 Jan 2021
How to avoid being ruined by market bubbles
Investment strategy

How to avoid being ruined by market bubbles

It’s not always easy to spot bubbles. And even if you do spot them, they can be hard to resist. Here, John Stepek explains how to overcome your natura…
29 Jan 2021
How small investors are creating a world of pain for short sellers
Investment strategy

How small investors are creating a world of pain for short sellers

Betting on falling share prices should have paid off amid the pandemic. Yet short-sellers are feeling the squeeze.
29 Jan 2021
What you need to know about investing in funds
Funds

What you need to know about investing in funds

One of the most basic investment products is the fund. John Stepek explains the basics of funds, including the difference between active and passive f…
28 Jan 2021
Why has GameStop’s share price jumped by 1,700% in a month?
US stockmarkets

Why has GameStop’s share price jumped by 1,700% in a month?

GameStop, a struggling American video games retailer, has seen its share price rocket as private investors do battle with hedge funds shorting the sto…
28 Jan 2021
Think Tesla is a bubble? This might be the best way to bet on it bursting
Oil

Think Tesla is a bubble? This might be the best way to bet on it bursting

The huge rise in Tesla’s share price means that, by market value, it’s now the sixth-largest company in the US and and the world’s biggest car-maker. …
25 Jan 2021
A lesson for value investors from investor Howard Marks
Investment strategy

A lesson for value investors from investor Howard Marks

Value investors need to open their minds, says US investor Howard Marks. But why is he saying it now?
25 Jan 2021
The charts that matter: inflation, bubbles, and booze
Economy

The charts that matter: inflation, bubbles, and booze

As US stocks head higher into bubble territory, John Stepek looks at the charts that matter most to the global economy.
23 Jan 2021
Inflation is the easiest way out of this – just don’t expect politicians to admit it
Inflation

Inflation is the easiest way out of this – just don’t expect politicians to admit it

The UK government borrowed £34.1bn in December, a record amount for that month. Britain's debt pile now amounts to 100% of GDP. How are we going to pa…
22 Jan 2021
The world’s fund managers are getting very bullish – be careful out there
Stockmarkets

The world’s fund managers are getting very bullish – be careful out there

The latest survey of fund managers shows them to be extremely bullish on all the same things. And that, says John Stepek, means the market is in dange…
21 Jan 2021
Inflation looks likely to take off this year – but there’s one key risk
Inflation

Inflation looks likely to take off this year – but there’s one key risk

With the world’s governments spending money hand over fist, inflation looks certain to take off at some point. But China could change all that. John S…
19 Jan 2021
It's not just the UK – we're seeing pandemic housing booms across the globe
Property

It's not just the UK – we're seeing pandemic housing booms across the globe

Soaring house prices aren’t just a UK thing, they’re a worldwide phenomenon. And it’s no coincidence – the underlying cause is much the same. John Ste…
18 Jan 2021
Prepare for the end of the epic bubble in US stocks
US stockmarkets

Prepare for the end of the epic bubble in US stocks

US stocks are as expensive as they’ve ever been. How can you prepare your portfolio for a bubble bursting?
18 Jan 2021
The charts that matter: bubbling over?
Global Economy

The charts that matter: bubbling over?

As markets get decidedly bubbly, John Stepek looks at the action in the charts that matter most to the global economy.
16 Jan 2021
Forget austerity – governments and central banks have no intention of cutting back
Global Economy

Forget austerity – governments and central banks have no intention of cutting back

Once the pandemic is over will we return to an era of austerity to pay for all the stimulus? Not likely, says John Stepek. The money will continue to …
15 Jan 2021
A simple way to profit from the next big trend change in the markets
Investment strategy

A simple way to profit from the next big trend change in the markets

Change is coming to the markets as the tech-stock bull market of the 2010s is replaced by a new cycle of rising commodity prices. John Stepek explains…
14 Jan 2021
The price of this commodity has almost doubled since the start of the year
Gas

The price of this commodity has almost doubled since the start of the year

Liquefied natural gas (LNG) is fetching record prices in Asia, almost doubling in the last two weeks alone. John Stepek explains why this is so import…
12 Jan 2021