The Twin Petes Investing Podcast: A Review

A few years ago, I wrote an article about the importance of financial literacy and education. At the time, I listed a number of sources such as podcasts as being key to my own self-directed programme of education. Today, I want to write about one of my favourite sources, both from an enjoyment and education point of view; The Twin Pete’s Investing Podcast.

DISCLAIMER: I have known the two Pete’s for several years – originally in the semi-professional context of my private investing career but have since had the good fortune to come to know them both personally and count them as good friends. This does, in some ways, influence my views on their podcast but I trust readers will have belief in my integrity and honesty in that I have no personal gain beyond supporting friends and promoting what I genuinely believe to be a great source of investing ideas.

The Twin Petes Investing Podcast was launched back in 2019 as a collaboration between two private investors, Peter Higgins (@conkers3 on Twitter) and Pete ‘WheelieDealer’ (@wheeliedealer) on Twitter. The early episodes of the podcast were a little lacking in audio quality, with crackly microphones and echoing audio (and constant interruptions by Wheelie) but over the years, the podcast has matured and flourished into an absolute cornerstone of my investing education.

Together, the two broadcasters discuss a rundown of general current affairs, macroeconomics and market moves, before diving into the more granular detail of individual companies that have caught their interest. One of the reasons I enjoy the podcast so much is the sincere way in which it raises companies of interest without ‘selling’ them to the listener. Companies are generally mentioned quickly with more time given to how they could respond to macro-economic trends than their individual future potential. Likewise, price targets are never mentioned – unlike publications such as Investor’s Chronicle, or numerous investing newsletters, the audience is left to do their own research and determine their own price target (if indeed, they want to invest at all).

The danger with most investing content is the risk of being ‘swayed’ to make an investment because an individual or publication has mentioned it. If I told you that my own portfolio had a compound annual growth rate of 50% a year over twenty years and I mentioned that I was interested in another company, would you believe that it was likely to be profitable or not?

The correct answer, of course, is that it depends on the company in question and the general market. My investing in it is totally irrelevant. The only problem is that being human, we tend to ignore that fact and try to draw a pattern.

  • If Henry’s portfolio has returned 50% a year for twenty years, then he must be a good investor.
  • If Henry is a good investor and is buying this company, then that must be because it is a good investment.
  • If it is a good investment, then I should make it.

This train of logic seems sound apart from a number of problems. In short, you have no way of being certain that;

  • My portfolio returns 50% a year.
  • That those returns are appropriate for the level of risk I am taking.
  • I am actually making an investment in the company.
  • You will make an investment at the same price as me.
  • I will continue to hold the company after my initial investment.

The fact that you cannot be certain of these five things means that when you try to ‘copy’ my trade you are operating with imperfect information. Publications that attempt to ‘tip’ shares are encouraging this sort of behaviour – often to the detriment of individual investors who fail to develop their own strategy and analysis framework.

By comparison, the Twin Petes Investing Podcast talks more about broad themes than individual companies. Even after listening to 70 podcasts, I only have the vaguest idea of what they are invested in (although this is less true for WheelieDealer who publishes fairly regular updates on his portfolio on his website). Again, buyer beware; you have no way of really verifying the accuracy of this and as Wheelie says over and over and over again – do not copy his trades!


Interestingly, the Twin Petes Investing Podcast was not originally backed by any sponsors and was entirely funded by the broadcasters themselves (hence the choppy editing and audio quality!). After some initial success, however, they were backed by Sharescope, the trading and portfolio management software produced by Ionic Information. When this was first announced, I admit to feeling a bit concerned that the tone and content were going to become overrun by adverts for the software and that the broadcasters were going to be forced into endlessly pushing the software at the expense of all else.

To their great credit, this dreadful fate has been avoided – the podcasts occasionally mention the software as both broadcasters use it but other than that the content has continued to be free and education focussed. Interestingly, they also seem to have got the ‘advert’ from Sharescope working properly. When they were originally sponsored, this strange female voice used to randomly interject with messages about a discount for ‘sharepad from sharescope’ – seemingly regardless of whatever was being discussed at the time!


One of my favourite parts of supporting the Twin Petes Investing Podcast is the Twin Pete’s Investing Challenge. Originally launched in 2021 and now back for a second year in 2022, the podcast raises money for a local charity. The first year, the broadcasters selected Menphys, a Leicestershire charity that supports disabled children and young adults, raising over £20,000 from 248 supporters.

This year, the podcast is raising funds for the Backup Trust, a UK charity that provides individuals that have suffered spinal injuries with a wide range of healthcare, education and emotional support.

Considering that the podcast is essentially free to listen to, this is a wonderful alternative to charging a fee for consuming the content. Listeners are able to donate as much or as little as they are able, helping to support those less fortunate than themselves. Regular listeners will hear Peter Higgin’s talk about kindness, humility and the importance of doing what you can to help others. These values are incredibly important and the regular and genuine way the podcast promotes them is something I greatly admire.

Content Quality

You might have reached this far and be wondering why I’m reviewing the podcast – or recommending it to readers.

At its core, the Twin Petes Investing Podcast is an accurate and honest reflection of two regular, private investors and the challenges that they face in managing their portfolios. They discuss the emotional rollercoaster of gains and losses in a way that resonates with my own experience and helps me to contextualise and manage my own responses to the challenges of investing.

Of particular power are the series of guest interviews that the podcast produces. Ranging from professional fund managers to other private investors, these interviews provide an insight into the multitude of ways in which portfolios can be constructed and managed.

The podcast also helps reinforce the importance of having a repeatable process for investing and having discipline in applying that process. Over the course of 70 episodes (at the time of this article), the podcast has covered most aspects of portfolio construction, risk management, emotional intelligence and stock selection in a way that not only feels relevant but which is presented in a very human way. You can almost imagine yourself at the pub with the broadcasters – a feat made all the more remarkable by the fact that they live the other end of the country to each other and until fairly recently had no visual connection to each other during the podcast.

Each of the Pete’s is unique in their approach to investing. Although both investors talk about the importance of investing in quality, WheelieDealer appears to be invested in some very old, very blue-chip companies (almost regardless of performance) whereas Peter Higgins seems to be more open to speculative and higher-risk companies in the technology and biopharma sectors. On the flip side, Peter Higgins tends to be quite cautious about the markets, almost bearish for the most part, whereas WheelieDealer has a much more ‘gung-ho, it will all be fine in the end’ style. This creates an interesting dynamic whereby both tend to talk about very different companies and sectors and approach them from different angles.

I also appreciate the rigour with which both avoid talking about the specifics of their own holdings. Although this can never be totally avoided, I find that the channel tends to be at its best when talking about new ideas to explore rather than companies the Petes hold. Aside from the occasional namedrop, the podcast never veers into feeling like either broadcaster is ‘talking their book’ and using the platform as a channel to generate interest in investments they hold.


Overall, I thoroughly enjoy the Twin Petes Investing Podcast as a friendly and accessible podcast for general investing strategy and market analysis. The tone is informal and relaxed – very much ‘easy listening’ – but still contains plenty of ideas to explore that will help develop your strategy and approach to the markets.

The lack of individual tips also gives the podcast an element of safety that other platforms fail to provide. When consuming educational content, I am extremely averse to being swayed by disingenuous fund managers and writers attempting to generate interest in companies to artificially force up the price. The risk of consuming educational content is that you never really know what a content creator’s true motive is behind publishing material.

You can listen to the podcast by subscribing on SoundCloud, AudioBoom, Amazon Music, Spotify, Google Podcasts, or as of fairly recently, watch the Petes in Live-Action on Youtube!

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