Foreign hello and welcome to the Bulletin with UBS on Monocle Radio.
Each week the sharpest minds and freshest thinkers in finance take you beyond the numbers and hype right to the heart of the big issues of the day.
This week we're exploring the UBS Global Investment Returns Yearbook 2025.
The yearbook is the authoritative guide to historical long run returns.
The the latest edition was launched this month and is a production once again of UBS Investment bank and UBS Global Wealth Management's Chief Investment Office.
In partnership with Professor Paul Marsh and Dr. Mike Staunton of London Business School and Professor Elroy Dimson of the University of Cambridge.
This year's piece explores how 125 years of historical data can provide insights for the future.
Up for discussion.
Amongst other themes were the arresting long term outperformance of stocks against bonds,
bills and inflation,
how diversification can can manage volatility and why inflation remains such an important consideration over time.
To quote our regular guest on this show, Mark Hafley,
CIO at UBS Global Wealth Management, in his introductory remarks,
the Global Investment Returns Yearbook once again teaches
that a long term perspective matters and not to underestimate the value of a disciplined investment approach.
Well, to unpack some of those key findings from this year's edition,
we're once again very fortunate to be joined by Paul Marsh, professor at London Business School.
Professor Marsh, lovely to chat,
chat with you once again and interesting I guess to sort of compare notes with our conversation from 12 months ago.
The Global Investment Returns Yearbook 2025.