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Algy's Investment Podcast

Algy's Investment Podcast

By: Algy Smith-Maxwell
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 Expert investment insight from the people who know how to handle money. In this series, Algy Smith-Maxwell talks to some of the leading minds in asset management and investing on topics including compound interest, value investing, macroeconomics, US equities and the technology sector. Guests includeTerry Smith, Anthony Bolton, William De Gale, Ben Whitmore, James Findlay, Roger Bootle. Disclaimer All content on Algy’s Investment Podcast is for your general information and use only and is not intended to address your particular requirements. In particular, the content does not constitute aAlgy Smith-Maxwell Economics Personal Finance
Episodes
  • William de Gale: Investing in Tech, Making 300% Returns & His Top Stock Pick for 2026 | #22 Part 1

    William de Gale: Investing in Tech, Making 300% Returns & His Top Stock Pick for 2026 | #22 Part 1
    Jan 12 2026

    William de Gale, is Co-Founder and Lead Portfolio Manager at BlueBox Asset Management, where he manages the BlueBox Global Technology Fund. He brings over 20 years of experience in global technology investing, including more than a decade at BlackRock running its offshore global technology strategy with top-decile performance. William specialises in identifying high-conviction, high-growth technology companies with the potential to deliver strong long-term returns.

    In this deep-dive conversation, William reveals:- Why the AI boom ISN'T a bubble (yet) - and the warning signs to watch for- The difference between Google and ChatGPT that most people miss- Why chip manufacturers represent 40% of his portfolio- His contrarian bet: Why Adobe and software platforms will be AI's biggest winners- The "picks and shovels" strategy that consistently outperforms disruptors- Why Nvidia's ecosystem is powerful but not unbeatable- His surprise top stock pick for 2026 (it's not what you think)William explains why companies selling the infrastructure (TSMC, ASML, Lam Research) consistently outperform the headline-grabbing disruptors, and why the market is wrong about AI's impact on software platforms.

    Chapters:

    00:00 - Intro 02:00 - Military to Finance Journey03:29 - Google vs ChatGPT06:13 - Who Owns OpenAI?07:24 - AI Energy Use08:10 - What Are GPUs?10:05 - AI Data Centers13:19 - AI Investment Scale14:07 - Safety & Guardrails15:17 - Big Spenders in AI18:11 - Artificial General Intelligence19:32 - AI Bubble Risk?22:18 - AI & Human Knowledge23:37 - What's Next After AI?24:13 - Tech Returns: 15% Growth26:02 - TSMC Leadership27:47 - Nvidia Explained28:33 - Nvidia vs Apple Ecosystem31:29 - Picks & Shovels Stocks

    Links & Resources:BlueBox Asset ManagementWebsite: https://www.blueboxfunds.com/LinkedIn: https://www.linkedin.com/company/bluebox-asset-management/?originalSubdomain=ukWilliam de GaleLinkedIn: https://www.linkedin.com/in/william-de-gale-fca-cfa-a2692258/?originalSubdomain=ukInvestment Disclaimer: This podcast is for educational and informational purposes only. It is not investment advice. Always do your own research and consult with a qualified financial advisor before making investment decisions.
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    33 mins
  • Freddie Lait: Fund Manager Sold His House to Start £1 Billion Fund | The Risk That Paid Off | #21

    Freddie Lait: Fund Manager Sold His House to Start £1 Billion Fund | The Risk That Paid Off | #21
    Dec 8 2025
    In this episode, I sit down with Freddie Lait, founder of Latitude Investment Management, who went from studying mathematics at Oxford to working at Goldman Sachs and Rothschild, before taking the ultimate leap - selling his house to start his own fund management business in 2016.Today, Freddie manages a £1 billion portfolio with a disciplined, long-term investment philosophy that has generated exceptional returns. In this conversation, we dive deep into:Key Topics Covered:Why Freddie sold his house to start his fund (and the financial risk involved)The investment philosophy behind Latitude's successHow to construct a portfolio for long-term wealth creationWhy earnings growth and dividends matter more than valuation multiplesThe 6.5% free cash flow yield strategy explainedHow 75% of his portfolio is positioned for inflationPortfolio management vs. stock analysis - which matters more?Why patience is the rarest commodity in investingThe 10-year rule for judging fund managersBuilding a team of exceptional analystsManaging a concentrated portfolio of 24 global stocksThe difference between investing before and after COVIDHis 30-year vision for the fundAbout Freddie Lait:Freddie is the founder and CIO of Latitude Investment Management, launched in 2016. With 16 years of fund management experience, including roles at Goldman Sachs Asset Management and Rothschild, Freddie has built a reputation for disciplined, long-term value creation. His fund focuses on global equities with strong earnings growth, solid free cash flow, and inflation-resistant characteristics.00:00 - Introduction to Freddie Lait02:00 - When Did Fund Management Become Your Career?04:51 - What Is Financial Modeling?06:22 - The Scary Decision to Start Your Own Fund10:01 - Investment Philosophy Behind Latitude Investment Management13:45 - Why Patience Is a Rare Commodity in Investing18:30 - Finding High-Quality Companies with Strong Returns23:15 - The Importance of Free Cash Flow in Stock Selection28:40 - Portfolio Construction: Concentration vs. Diversification33:20 - Managing Risk in a 24-Stock Portfolio38:50 - Sector Preferences and What to Avoid42:30 - Understanding Free Cash Flow Yield (6.5% Strategy)47:15 - Inflation Protection: 75% of Portfolio Positively Linked52:40 - Technology Adoption and Portfolio Transformation56:20 - Google and the Magnificent Seven Discussion1:01:30 - The 80/20 Rule in Portfolio Management1:04:45 - Building and Leading an Investment Team1:09:20 - Personal Weaknesses: Being Too Logical1:12:50 - The 10,000 Hour Rule and 16 Years of Experience1:16:40 - What Time Period Should Fund Managers Be Judged Over?1:21:30 - Current Fund Size: £1 Billion and Growing1:24:15 - Managing Cash Inflows Operationally1:26:45 - Final Thoughts and Closing RemarksSubscribe for more conversations with successful investors, entrepreneurs, and product leaders!#investing #fundmanagement #portfoliomanagement #stocks #finance #stockmarket #wealth #wealthbuilding
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    1 hr and 8 mins
  • Glen Finegan: Investing in Emerging Markets - Risks, Rewards & Realities | #20

    Glen Finegan: Investing in Emerging Markets - Risks, Rewards & Realities | #20
    Oct 14 2025

    In this episode of Algy’s Investment Podcast, we sit down with Glen Finegan of Skerryvore Asset Management, a seasoned investor with decades of experience managing global emerging market portfolios. Together, we dive deep into the realities of investing beyond the US and Europe, exploring the risks, opportunities, and governance challenges that define emerging markets today.

    We discuss:


    1. What defines an emerging market and why they matter for global investors.
    2. The biggest opportunities in India, Taiwan, and Mexico — and how domestic consumption drives long-term growth.
    3. How to assess risk, governance, and trust in management teams when investing in volatile regions.
    4. Why many state-owned enterprises in China, Brazil, and Russia fail investors — and how to avoid these traps.
    5. The role of currencies, inflation, and political risk in shaping investment outcomes.
    6. Insights into China’s tech market, Taiwan Semiconductor (TSMC), and India’s growing middle class.
    7. The importance of absolute return investing vs. chasing benchmarks.
    8. Lessons from history — from the Mexican crisis to the Asian crisis and the global financial crisis — and how emerging markets bounced back.
    9. Why governance, integrity, and sustainable business models are the true differentiators in long-term success.

    Glen also shares Skerryvore’s investment philosophy, built on four key pillars:


    1. Strong governance and alignment with minority shareholders.
    2.Businesses with durable pricing power and compounding ability.
    3.Resilient balance sheets.
    4. Companies behaving sustainably for long-term growth.
    Whether you’re an institutional investor, a financial professional, or simply curious about the future of global investing, this episode provides a rare inside look into how top investors identify high-quality companies in some of the world’s most complex and fast-growing economies.
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    1 hr and 9 mins
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