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Bassline Episode 25

In this special “Situation Update” episode, Lance Peltz unpacks the rapidly evolving global landscape and its economic implications.

Lance offers a grounded, no-predictions perspective on geopolitical tensions, highlighting how disruption to energy, materials, and supply chains is driving inflation, market volatility, and consumer pressure worldwide. From oil and LNG dynamics to emerging-market vulnerability, the conversation explores how conflict directly translates into economic stress.

They also examine investor behaviour, shifting market structures, and growing concerns about private credit, AI-driven change, and speculative trends in assets such as silver and Bitcoin.

With no clear end in sight, this episode provides a sharp, sober view of markets in flux - and the deeper structural shifts shaping the global order.

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Investment updates

Initial impact of the US-Iran conflict

Over the weekend (and continuing as we type), the United States and Israel launched coordinated military strikes against Iran, targeting missile infrastructure, air defence systems and senior political and military leadership.

Bassline Episode 24

In this special episode, the roles are reversed as Adrian takes the interviewer’s seat to speak with Dave about a subject that is both deeply personal and increasingly relevant: neurodiversity, late ADHD diagnosis, and the profound impact this can have on our relationship with money. Dave reflects on being diagnosed with ADHD later in life, prompted initially by his children’s experiences and a growing realisation that many lifelong patterns finally had an explanation.

Investment updates

Q4 2025 Market Commentary

Markets ended the year in a buoyant mood, with further gains in the fourth quarter meaning that most equity markets finished 2025 at or near all-time highs having made double digit returns. Bond markets also made modest gains, and the standout performer was precious metals, led by silver. One of the surprises was that the US equity market was among the year’s laggards, with returns for UK investors further reduced by US dollar weakness.

Bassline Episode 23

In this special Budget edition of Bassline, Dave is joined by Adrian and Lance for a frank, occasionally exasperated, unpacking of what was billed as one of the most hyped UK budgets in years. That hype, they agree, was largely fuelled by weeks of political kite-flying, leaks, reversals, and noise. When the moment finally arrived, the reality felt underwhelming.