Duncan Lamont
@duncanlamont2.bsky.social
I post cool charts about markets and investing. Scottish and into running. Head of Strategic Research @Schroders. Not investment advice
Pinned
Duncan Lamont
@duncanlamont2.bsky.social
· May 15
Why cash is riskier than stock market investing
We need an entire rethink of how we talk about risk.
www.schroders.com
⚠️I’ve written a two-footed studs-up challenge of an article about something I feel strongly about:
the way we talk about risk is all wrong
www.schroders.com/en-gb/uk/int...
the way we talk about risk is all wrong
www.schroders.com/en-gb/uk/int...
If anyone wants a healthy warming soup for the cold weather, this spiced lentil one is awesome (and cheap)
From Nigel slater’s Christmas chronicles. I’m currently making my second batch in a week
From Nigel slater’s Christmas chronicles. I’m currently making my second batch in a week
January 2, 2026 at 6:32 PM
If anyone wants a healthy warming soup for the cold weather, this spiced lentil one is awesome (and cheap)
From Nigel slater’s Christmas chronicles. I’m currently making my second batch in a week
From Nigel slater’s Christmas chronicles. I’m currently making my second batch in a week
For all the runners out there, good luck with whatever your hopes & dreams are for 2026, whether racing, PBs, hitting the trails, couch-to-5k, or just finding a gap in the day for some me-time
That last one is so important. I love my kids but y’know, daddy also needs some time alone with a podcast
That last one is so important. I love my kids but y’know, daddy also needs some time alone with a podcast
December 31, 2025 at 4:40 PM
For all the runners out there, good luck with whatever your hopes & dreams are for 2026, whether racing, PBs, hitting the trails, couch-to-5k, or just finding a gap in the day for some me-time
That last one is so important. I love my kids but y’know, daddy also needs some time alone with a podcast
That last one is so important. I love my kids but y’know, daddy also needs some time alone with a podcast
Exciting but the really important questions are: what’s its taxation and tariff status?
www.bbc.co.uk/news/article...
www.bbc.co.uk/news/article...
UK company sends factory with 1,000C furnace into space
A factory in space has been switched on and has reached temperatures of about 1,000C.
www.bbc.co.uk
December 31, 2025 at 1:48 PM
Exciting but the really important questions are: what’s its taxation and tariff status?
www.bbc.co.uk/news/article...
www.bbc.co.uk/news/article...
Does anyone know of a charity that still has a place for the @manchestermarathon.bsky.social in April?
I’m locking in (and have run marathons for the past 2yrs so you can be confident I’ll do it)
I’ve signed up to loads of mailing lists but not had any luck, hence this speculative attempt…
I’m locking in (and have run marathons for the past 2yrs so you can be confident I’ll do it)
I’ve signed up to loads of mailing lists but not had any luck, hence this speculative attempt…
December 30, 2025 at 12:51 PM
Does anyone know of a charity that still has a place for the @manchestermarathon.bsky.social in April?
I’m locking in (and have run marathons for the past 2yrs so you can be confident I’ll do it)
I’ve signed up to loads of mailing lists but not had any luck, hence this speculative attempt…
I’m locking in (and have run marathons for the past 2yrs so you can be confident I’ll do it)
I’ve signed up to loads of mailing lists but not had any luck, hence this speculative attempt…
My dad got my son a Napoli Christmas jumper. I want it
December 25, 2025 at 12:27 PM
My dad got my son a Napoli Christmas jumper. I want it
It’s days like this when I lament Scotland banning the sale of alcohol before 10am
Imm stocking up for Christmas, not out on the lash!
Imm stocking up for Christmas, not out on the lash!
December 23, 2025 at 9:32 AM
It’s days like this when I lament Scotland banning the sale of alcohol before 10am
Imm stocking up for Christmas, not out on the lash!
Imm stocking up for Christmas, not out on the lash!
A new low has been hit
December 19, 2025 at 8:56 AM
A new low has been hit
Has the active/passive shift contributed to the demise of the UK small/mid cap industry, and by consequence the UK IPO market and UK productivity?
www.linkedin.com/posts/duncan...
www.linkedin.com/posts/duncan...
Has the active/passive shift contributed to the demise of the UK small/mid cap industry, and by consequence the UK IPO market and UK productivity?
That’s the argument made by Andrew Craig in a post… ...
Has the active/passive shift contributed to the demise of the UK small/mid cap industry, and by consequence the UK IPO market and UK productivity?
That’s the argument made by Andrew Craig in a post y...
www.linkedin.com
December 17, 2025 at 9:57 AM
Has the active/passive shift contributed to the demise of the UK small/mid cap industry, and by consequence the UK IPO market and UK productivity?
www.linkedin.com/posts/duncan...
www.linkedin.com/posts/duncan...
🫧How well are you being paid for taking credit risk across the public market spectrum?
💡No massive misalignments now, compared with earlier in the year:
- hard EMD used to offer a bigger pickup vs corps
- EUR HY used to offer pickup vs US HYD
* Not inv advice. Opinions my own *
💡No massive misalignments now, compared with earlier in the year:
- hard EMD used to offer a bigger pickup vs corps
- EUR HY used to offer pickup vs US HYD
* Not inv advice. Opinions my own *
December 16, 2025 at 8:59 AM
🫧How well are you being paid for taking credit risk across the public market spectrum?
💡No massive misalignments now, compared with earlier in the year:
- hard EMD used to offer a bigger pickup vs corps
- EUR HY used to offer pickup vs US HYD
* Not inv advice. Opinions my own *
💡No massive misalignments now, compared with earlier in the year:
- hard EMD used to offer a bigger pickup vs corps
- EUR HY used to offer pickup vs US HYD
* Not inv advice. Opinions my own *
Big tech has borrowed more in the current 𝐪𝐮𝐚𝐫𝐭𝐞𝐫 than in any full 𝐲𝐞𝐚𝐫 in history, other than 2017
Spreads are v.tight as supply has been met with demand…but will continue to be tested as supply ramps up further in 2026
Source: Schroders Credit Lens
Opinions my own, not the views of Schroders
Spreads are v.tight as supply has been met with demand…but will continue to be tested as supply ramps up further in 2026
Source: Schroders Credit Lens
Opinions my own, not the views of Schroders
December 15, 2025 at 12:29 PM
Big tech has borrowed more in the current 𝐪𝐮𝐚𝐫𝐭𝐞𝐫 than in any full 𝐲𝐞𝐚𝐫 in history, other than 2017
Spreads are v.tight as supply has been met with demand…but will continue to be tested as supply ramps up further in 2026
Source: Schroders Credit Lens
Opinions my own, not the views of Schroders
Spreads are v.tight as supply has been met with demand…but will continue to be tested as supply ramps up further in 2026
Source: Schroders Credit Lens
Opinions my own, not the views of Schroders
Tired and run down so thought I’d take a paracetamol and go to bed early with a book
What do I not want? Paracetamol with caffeine, that’s what!
What do I not want? Paracetamol with caffeine, that’s what!
December 12, 2025 at 8:37 PM
Tired and run down so thought I’d take a paracetamol and go to bed early with a book
What do I not want? Paracetamol with caffeine, that’s what!
What do I not want? Paracetamol with caffeine, that’s what!
📊Friday Chart Quiz: Who am I? I rode the Dotcom boom/bust but didn't die
I had a great run in the mid/late 2000s then fell on hard times
I more than doubled in the covid-era then gave most of it back
I'm up almost 50% since July
Clue: you've almost certainly been a customer of mine
I had a great run in the mid/late 2000s then fell on hard times
I more than doubled in the covid-era then gave most of it back
I'm up almost 50% since July
Clue: you've almost certainly been a customer of mine
December 12, 2025 at 10:26 AM
📊Friday Chart Quiz: Who am I? I rode the Dotcom boom/bust but didn't die
I had a great run in the mid/late 2000s then fell on hard times
I more than doubled in the covid-era then gave most of it back
I'm up almost 50% since July
Clue: you've almost certainly been a customer of mine
I had a great run in the mid/late 2000s then fell on hard times
I more than doubled in the covid-era then gave most of it back
I'm up almost 50% since July
Clue: you've almost certainly been a customer of mine
There are so many people who want to give London a kicking
🎸 This city rocks
The vibrancy, the energy, the melting pot
I don’t live here any more but boy do I love coming back
🎸 This city rocks
The vibrancy, the energy, the melting pot
I don’t live here any more but boy do I love coming back
December 11, 2025 at 6:02 PM
There are so many people who want to give London a kicking
🎸 This city rocks
The vibrancy, the energy, the melting pot
I don’t live here any more but boy do I love coming back
🎸 This city rocks
The vibrancy, the energy, the melting pot
I don’t live here any more but boy do I love coming back
Saw Caribou at the Barrowland in Glasgow last night. Monday night sober raving was surprisingly epic
Worth the post midnight bedtime
Worth the post midnight bedtime
December 9, 2025 at 8:43 PM
Saw Caribou at the Barrowland in Glasgow last night. Monday night sober raving was surprisingly epic
Worth the post midnight bedtime
Worth the post midnight bedtime
US equities have returned nearly 20% this year even as their valuations have *contracted*
Earnings growth has been the engine
For everyone else, earnings growth has been much weaker. Their 30%ish returns 🙀 have relied on rising valuations and dollar weakness
Earnings growth has been the engine
For everyone else, earnings growth has been much weaker. Their 30%ish returns 🙀 have relied on rising valuations and dollar weakness
December 9, 2025 at 1:40 PM
US equities have returned nearly 20% this year even as their valuations have *contracted*
Earnings growth has been the engine
For everyone else, earnings growth has been much weaker. Their 30%ish returns 🙀 have relied on rising valuations and dollar weakness
Earnings growth has been the engine
For everyone else, earnings growth has been much weaker. Their 30%ish returns 🙀 have relied on rising valuations and dollar weakness
This and the comment below are the 💣
Some of the best content on the FT.com is not being produced by FT journalists, but by below-the-line commenter Winter Cruise Allowance.
Here's their take on the new taxes on cash held in stocks-and-shares ISAs:
Here's their take on the new taxes on cash held in stocks-and-shares ISAs:
December 8, 2025 at 1:19 PM
This and the comment below are the 💣
🎅📊Friday Chart Quiz: what does this festive chart show across the regions of the UK?
It's 2020 data. It's not specifically a covid thing but it is possible that affected the outcome. This will make sense when you hear the answer!
It's 2020 data. It's not specifically a covid thing but it is possible that affected the outcome. This will make sense when you hear the answer!
December 5, 2025 at 9:49 AM
🎅📊Friday Chart Quiz: what does this festive chart show across the regions of the UK?
It's 2020 data. It's not specifically a covid thing but it is possible that affected the outcome. This will make sense when you hear the answer!
It's 2020 data. It's not specifically a covid thing but it is possible that affected the outcome. This will make sense when you hear the answer!
New product line idea for games workshop
But also, wow 🤩
But also, wow 🤩
A book from the 19th century that depicts the Rhine Valley by creating an impression of three-dimensionality and spatial distance.
@MasayukiTsuda2 #globalmuseum #books #travel #19thcentury
@MasayukiTsuda2 #globalmuseum #books #travel #19thcentury
December 3, 2025 at 8:39 PM
New product line idea for games workshop
But also, wow 🤩
But also, wow 🤩
My new favourite thing is this guy absolutely nailing the Instagram account for the local convenience store in Rothes in the north of Scotland
Puts a proper smile on my face. Well done to him and his bosses
www.instagram.com/reel/DRnE3vt...
Puts a proper smile on my face. Well done to him and his bosses
www.instagram.com/reel/DRnE3vt...
KeyStore on Instagram: "Carol was mortified😂😂
Visit KeyStore Rothes right now at 35 High St, Rothes, Aberlour AB38 7AU🙌
#rothes #dufftown #aberlour #aberdeenshire #moray"
2,371 likes, 81 comments - keystoresuk on November 28, 2025: "Carol was mortified😂😂
Visit KeyStore Rothes right now at 35 High St, Rothes, Aberlour AB38 7AU🙌
#rothes #dufftown #aberlour #aberdeenshi...
www.instagram.com
November 30, 2025 at 8:52 PM
My new favourite thing is this guy absolutely nailing the Instagram account for the local convenience store in Rothes in the north of Scotland
Puts a proper smile on my face. Well done to him and his bosses
www.instagram.com/reel/DRnE3vt...
Puts a proper smile on my face. Well done to him and his bosses
www.instagram.com/reel/DRnE3vt...
Ran 17 mins dead in my parkrun PB today, came 9th
Proper chufffed but frustratingly close to sub-17. Could easily have found 0.1 seconds if I’d known
And what a field that this was only 9th! Winner was 15:42 😳
Sorry if you’re bored of my occasional running posts. Feeling pretty proud of myself!
Proper chufffed but frustratingly close to sub-17. Could easily have found 0.1 seconds if I’d known
And what a field that this was only 9th! Winner was 15:42 😳
Sorry if you’re bored of my occasional running posts. Feeling pretty proud of myself!
November 29, 2025 at 5:44 PM
Ran 17 mins dead in my parkrun PB today, came 9th
Proper chufffed but frustratingly close to sub-17. Could easily have found 0.1 seconds if I’d known
And what a field that this was only 9th! Winner was 15:42 😳
Sorry if you’re bored of my occasional running posts. Feeling pretty proud of myself!
Proper chufffed but frustratingly close to sub-17. Could easily have found 0.1 seconds if I’d known
And what a field that this was only 9th! Winner was 15:42 😳
Sorry if you’re bored of my occasional running posts. Feeling pretty proud of myself!
📊📉FridayChartQuiz: this shows something as % of global GDP back to 1880. But what is the "something"?
The fact it's falling and forecast to keep falling, is a clue. It's important for the global economy, even more for the UK
* Opinions are my own and do not represent the views of Schroders *
The fact it's falling and forecast to keep falling, is a clue. It's important for the global economy, even more for the UK
* Opinions are my own and do not represent the views of Schroders *
November 28, 2025 at 9:05 AM
📊📉FridayChartQuiz: this shows something as % of global GDP back to 1880. But what is the "something"?
The fact it's falling and forecast to keep falling, is a clue. It's important for the global economy, even more for the UK
* Opinions are my own and do not represent the views of Schroders *
The fact it's falling and forecast to keep falling, is a clue. It's important for the global economy, even more for the UK
* Opinions are my own and do not represent the views of Schroders *
I can’t believe more people didn’t find this funny. The OBR used AI to assess if economists could be replaced by AI
>50% of tasks exposed to AI + majority complemented
➡️ economists = complemented
☠️ Statisticians? Substituted
Mathematicians? Borderline
Actuaries? Safe (consulting saves the day?)
>50% of tasks exposed to AI + majority complemented
➡️ economists = complemented
☠️ Statisticians? Substituted
Mathematicians? Borderline
Actuaries? Safe (consulting saves the day?)
November 27, 2025 at 9:47 AM
I can’t believe more people didn’t find this funny. The OBR used AI to assess if economists could be replaced by AI
>50% of tasks exposed to AI + majority complemented
➡️ economists = complemented
☠️ Statisticians? Substituted
Mathematicians? Borderline
Actuaries? Safe (consulting saves the day?)
>50% of tasks exposed to AI + majority complemented
➡️ economists = complemented
☠️ Statisticians? Substituted
Mathematicians? Borderline
Actuaries? Safe (consulting saves the day?)
Reposted by Duncan Lamont
From @DuncanLamont2
10% drops happen in more years than not, 20% falls happen once every 4 years @Schroders
10% drops happen in more years than not, 20% falls happen once every 4 years @Schroders
November 26, 2025 at 1:57 PM
From @DuncanLamont2
10% drops happen in more years than not, 20% falls happen once every 4 years @Schroders
10% drops happen in more years than not, 20% falls happen once every 4 years @Schroders
Absolute banter example
The OBR has analysed how likely it is that an economist could be replaced by AI 🤣
TLDR they reckon it complements rather than substitutes. Their jobs are safe!
The OBR has analysed how likely it is that an economist could be replaced by AI 🤣
TLDR they reckon it complements rather than substitutes. Their jobs are safe!
November 26, 2025 at 1:57 PM
Absolute banter example
The OBR has analysed how likely it is that an economist could be replaced by AI 🤣
TLDR they reckon it complements rather than substitutes. Their jobs are safe!
The OBR has analysed how likely it is that an economist could be replaced by AI 🤣
TLDR they reckon it complements rather than substitutes. Their jobs are safe!
The cut to productivity growth really is a big one
Now 1.5% in 2030, previously 1.8%
Trend productivity growth now only 1.0% down from 1.3%
And this *includes* expected gains from AI
Now 1.5% in 2030, previously 1.8%
Trend productivity growth now only 1.0% down from 1.3%
And this *includes* expected gains from AI
November 26, 2025 at 1:13 PM
The cut to productivity growth really is a big one
Now 1.5% in 2030, previously 1.8%
Trend productivity growth now only 1.0% down from 1.3%
And this *includes* expected gains from AI
Now 1.5% in 2030, previously 1.8%
Trend productivity growth now only 1.0% down from 1.3%
And this *includes* expected gains from AI