London Isn't Dying — It's On Sale. Here's Where To Look

UK stocks are being taken private at a record pace: this year, takeover bids for London-listed companies have run at roughly £60bn against under £600m raised in new IPOs, and Neil Woodford argues that this wave of M&A is the clearest sign in years that UK equities are undervalued. In this episode, Woodford and Jon Adair break down why the FTSE and London stock market trade at such a deep discount to the US, what a 75% takeover premium reveals about UK share prices, whether British stocks are cheap or a value trap, and where Woodford sees value across UK banks, oil and housebuilders. We posted a companion explainer on the cyclically adjusted PE ratio – what CAPE is, why the US reading of 42x matters, and how to read it: https://www.noisecancelling.co/read/what-the-shiller-cape-tells-you-about-the-next-ten-years