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Market Matters is a monthly podcast from Kepler Trust Intelligence that delivers big-picture insights from leading investment specialists, exploring the opportunities, challenges, and risks shaping investors’ portfolios. This month, we are joined by Chloe Smith, fund manager at Sanford DeLand Asset Management. Chloe joined Sanford Deland in October 2021, initially as an investment analyst and is now co-manager on the TM SDL UK Buffettology and TM SDL Free Spirit funds. In this episode, Chloe tells us why moving to London isn’t the be-all and end-all to a career in finance, what she’s learnt from Warren Buffett and attending the Berkshire Hathaway annual meeting in Omaha, and why UK companies have managed to grow at fast rate despite low UK economic growth. 00:00 Introduction 01:14 Background to becoming a fund manager 05:53 Becoming a Buffettologist 07:02 Reflections on attending Berkshire Hathaway’s AGM 08:24 Reinforcing the importance of long-term investing 09:11 Which of Warren Buffett’s principles are SDL’s funds run on? 11:42 What has surprised you about the stock market in 2025? 13:56 Navigating the challenging UK stock market 16:27 Are you worried about the de-equitisation of the UK stock market? 18:12 How do you engage with companies subject of M&A? 19:34 The outlook for the UK economy and stock market 23:38 What would cause a re-rating of the UK stock market? 26:06 Where in the UK market are you positive? 28:06 Which companies will benefit from artificial intelligence? 29:04 Further information 29:21 Risk warning Please note that this podcast was recorded on 28 November 2025. Our latest market insights: https://www.trustintelligence.co.uk/investor/articles/category/strategy-investor
