Toby Nangle
@tobyn.bsky.social
FT Alphaville reporter. Ex-“veteran” fund manager. Resolution Foundation Assoc. Baring Foundation Trustee.
🚨 Want a long-term equity market return forecast? Just think of a number between six and seven
www.ft.com/content/534a...
www.ft.com/content/534a...
Want a long-term equity market return forecast? Just think of a number between six and seven
Reviewing a dozen years of stock forecasts
www.ft.com
January 2, 2026 at 12:20 PM
🚨 Want a long-term equity market return forecast? Just think of a number between six and seven
www.ft.com/content/534a...
www.ft.com/content/534a...
Reposted by Toby Nangle
American followers can order this now. Out in less than a week.
I’d really appreciate it if they did.
I’d really appreciate it if they did.
January 1, 2026 at 5:16 PM
American followers can order this now. Out in less than a week.
I’d really appreciate it if they did.
I’d really appreciate it if they did.
Amongst a dislikable field Starmer & Reeves still stand out www.ft.com/content/1995...
December 31, 2025 at 2:59 PM
Amongst a dislikable field Starmer & Reeves still stand out www.ft.com/content/1995...
Searching (fruitlessly, for something else in) the IMF's Oct GFSR, I can see why this chart gives them the heebie-jeebies.
UST mkt has flunked both its last two tests as global risk-free asset. www.imf.org/-/media/file...
UST mkt has flunked both its last two tests as global risk-free asset. www.imf.org/-/media/file...
December 30, 2025 at 9:44 AM
Searching (fruitlessly, for something else in) the IMF's Oct GFSR, I can see why this chart gives them the heebie-jeebies.
UST mkt has flunked both its last two tests as global risk-free asset. www.imf.org/-/media/file...
UST mkt has flunked both its last two tests as global risk-free asset. www.imf.org/-/media/file...
Can’t immediately find the Kings New Year Honours list, but guessing it’s still not Lord @samuelmarclowe.bsky.social ?
December 30, 2025 at 8:06 AM
Can’t immediately find the Kings New Year Honours list, but guessing it’s still not Lord @samuelmarclowe.bsky.social ?
I get that the UK Natl Wealth Fund has THREE objectives (generate growth & clean energy; crowd in private capital; generate a return for the taxpayer) — and also that it is still scaling up — but reporting a 14.2% loss is a very bad look: www.nationalwealthfund.org.uk/media/zygibc...
December 29, 2025 at 9:44 PM
I get that the UK Natl Wealth Fund has THREE objectives (generate growth & clean energy; crowd in private capital; generate a return for the taxpayer) — and also that it is still scaling up — but reporting a 14.2% loss is a very bad look: www.nationalwealthfund.org.uk/media/zygibc...
Hadn’t seen this surveyed before
www.theguardian.com/uk-news/2025...
www.theguardian.com/uk-news/2025...
December 29, 2025 at 9:31 PM
Hadn’t seen this surveyed before
www.theguardian.com/uk-news/2025...
www.theguardian.com/uk-news/2025...
Imagine Musk will be quick to condemn Saudi’s latest crackdown on freedom of speech www.ft.com/content/e8e2...
Saudi Arabia goes after critics of rising cost of living
Wave of arrests and fines are in apparent response to online anger over reforms to social security benefits
www.ft.com
December 29, 2025 at 4:33 PM
Imagine Musk will be quick to condemn Saudi’s latest crackdown on freedom of speech www.ft.com/content/e8e2...
“You know the difference between cannibals and liberals? Cannibals eat only their enemies.” LBJ, quoted in Zbig by @edwardluce.bsky.social
December 29, 2025 at 10:21 AM
“You know the difference between cannibals and liberals? Cannibals eat only their enemies.” LBJ, quoted in Zbig by @edwardluce.bsky.social
My word of 2025:: Lollification
December 26, 2025 at 9:01 AM
My word of 2025:: Lollification
Reposted by Toby Nangle
Google has promised it is working on a “fix” for spam sites in its Discover app after more fake news stories topped the rankings in the UK pressgazette.co.uk/platforms/go...
Google promises Discover 'fix' as more fake AI stories top rankings
Google has promised it is working on a "fix" for spam sites in its Discover app after more fake news stories topped the rankings in the UK.
pressgazette.co.uk
December 24, 2025 at 9:00 AM
Google has promised it is working on a “fix” for spam sites in its Discover app after more fake news stories topped the rankings in the UK pressgazette.co.uk/platforms/go...
Huh - on a tax-equivalent yield basis US munis yield more than EM corporate bonds. am.jpmorgan.com/us/en/asset-...
December 22, 2025 at 9:53 AM
Huh - on a tax-equivalent yield basis US munis yield more than EM corporate bonds. am.jpmorgan.com/us/en/asset-...
The best of FT Alphaville, 2025 edition
TL;DR: lots and lots of navel-gazing
www.ft.com
December 22, 2025 at 9:34 AM
Reposted by Toby Nangle
Happy Friday, we got you a long read on where Handel, Keynes, Newton, Turner and Darwin might day-trade if they'd been born in a different century and chosen to waste their lives.
www.ft.com/content/5d21...
www.ft.com/content/5d21...
Which genius from history would have been the best investor?
FTAV goes hedge fund headhunting through the ages
www.ft.com
December 19, 2025 at 8:30 AM
Happy Friday, we got you a long read on where Handel, Keynes, Newton, Turner and Darwin might day-trade if they'd been born in a different century and chosen to waste their lives.
www.ft.com/content/5d21...
www.ft.com/content/5d21...
🚨Which hedge funds might’ve lured away geniuses of yesteryear? @alphaville.ft.com investigates.
Free-to-read.
www.ft.com/content/5d21...
Free-to-read.
www.ft.com/content/5d21...
Which genius from history would have been the best investor?
FTAV goes hedge fund headhunting through the ages
www.ft.com
December 19, 2025 at 7:27 AM
🚨Which hedge funds might’ve lured away geniuses of yesteryear? @alphaville.ft.com investigates.
Free-to-read.
www.ft.com/content/5d21...
Free-to-read.
www.ft.com/content/5d21...
Beautifully put by @matt-levine.bsky.social www.bloomberg.com/opinion/news...
December 18, 2025 at 8:34 PM
Beautifully put by @matt-levine.bsky.social www.bloomberg.com/opinion/news...
Have enjoyed Reith Lectures, incl Q&A. Esp exchange starting 44:30 www.bbc.co.uk/sounds/play/...
The Reith Lectures - Rutger Bregman - Moral Revolution - 3. A conspiracy of decency - BBC Sounds
Dutch historian Rutger Bregman gives the third of his 2025 BBC Reith Lectures.
www.bbc.co.uk
December 18, 2025 at 8:33 AM
Have enjoyed Reith Lectures, incl Q&A. Esp exchange starting 44:30 www.bbc.co.uk/sounds/play/...
Totally missed the brief period in which Warsh > Hassett on Polymarket. He now lags Waller. polymarket.com/event/who-wi...
December 17, 2025 at 3:02 PM
Totally missed the brief period in which Warsh > Hassett on Polymarket. He now lags Waller. polymarket.com/event/who-wi...
According to GS, 30% of total USD credit net supply in 2025 has been AI-related.
December 17, 2025 at 11:55 AM
According to GS, 30% of total USD credit net supply in 2025 has been AI-related.
Reposted by Toby Nangle
The FT's favourite non-FT articles of 2025 www.ft.com/content/72d0...
FT journalists pick their favourite non-FT articles of the year
Everything you should read that we didn’t write
www.ft.com
December 17, 2025 at 6:53 AM
The FT's favourite non-FT articles of 2025 www.ft.com/content/72d0...
Reposted by Toby Nangle
🚨A new angle on private equity’s volatility laundering
www.ft.com/content/ff83...
www.ft.com/content/ff83...
Here’s a new angle on private equity’s volatility laundering
Long and invariable lags FTW
www.ft.com
December 16, 2025 at 7:30 AM
🚨A new angle on private equity’s volatility laundering
www.ft.com/content/ff83...
www.ft.com/content/ff83...
Going through Churchill's financial history. Slightly taken aback that the going rate for one of his freelance articles in the 1920s was £750.
December 16, 2025 at 9:57 AM
Going through Churchill's financial history. Slightly taken aback that the going rate for one of his freelance articles in the 1920s was £750.
🚨A new angle on private equity’s volatility laundering
www.ft.com/content/ff83...
www.ft.com/content/ff83...
Here’s a new angle on private equity’s volatility laundering
Long and invariable lags FTW
www.ft.com
December 16, 2025 at 7:30 AM
🚨A new angle on private equity’s volatility laundering
www.ft.com/content/ff83...
www.ft.com/content/ff83...
Reposted by Toby Nangle
An obituary to the IMF's chief nemesis and a lovely caring man, Peter Doyle . Thanks to my co-author and substack host @generaltheorist.bsky.social
moneyinsideout.substack.com/p/peter-doyle
moneyinsideout.substack.com/p/peter-doyle
Peter Doyle
Tribute to a good salty man
moneyinsideout.substack.com
December 14, 2025 at 2:43 PM
An obituary to the IMF's chief nemesis and a lovely caring man, Peter Doyle . Thanks to my co-author and substack host @generaltheorist.bsky.social
moneyinsideout.substack.com/p/peter-doyle
moneyinsideout.substack.com/p/peter-doyle