Jul 10, 2026 · 32 min
Paul Scott makes the case for direct premium subscriptions
Paul's Podcast - Fri 10 July 2026
The episode is chiefly a subscriber note, clarifying how listeners can access premium content while separating personal investment opinions from financial advice.
- 1Paul Scott welcomes free subscribers and highlights two recent premium conversions, Giles and KM.
- 2He recommends subscribing directly rather than through Apple, with Substack providing the subscription infrastructure.
- 3The podcast presents investment opinions on UK small and mid-cap companies, not regulated financial advice.
Don't miss
Paul Scott explains why listeners should subscribe directly rather than through Apple.
The brief
Paul Scott opens by welcoming free subscribers and celebrating two new premium conversions, Giles and KM, making the episode’s immediate focus clear: growing the paid audience.
The subscription guidance is practical and specific: listeners are advised to sign up directly rather than through Apple, with Substack central to the process.
That commercial note sits alongside a clear boundary around the show’s purpose: Paul Scott offers personal investment opinions, not financial advice.
The episode’s standout moment is its direct appeal to listeners weighing premium access, turning a routine welcome into a concise explanation of how to subscribe.
What was said on this episode
31 statements · 22 positive · 8 negative · 1 mixed
AI cannot reliably identify subtle market-moving implications in company announcements.
“AI can't do that.”
Listen at 2:03
Human judgment and experience can identify market-moving disclosures better than automated reading.
“it's that human judgment and 30 years of experience when you look at an R&S and say, actually, that's a bit of a game changer. So we've delivered in spades this week”
Listen at 2:13
Paul Scott’s market calls are correct more than 90% of the time.
“And our hit rate, when we put things just into a simple good and bad format, we get about 90% plus of them right.”
Listen at 2:26
Paul’s market calls have historically been correct more than 90% of the time.
“we get about 90% plus of them right”
Listen at 2:31
Knights Group appears to be a good, inexpensive business on a P/E basis.
“it does look a really good business and cheap on a PE basis”
Listen at 5:39
AI is currently producing limited commercial value for companies.
“I'm becoming increasingly skeptical about the commercial value of AI because I'm seeing so little actually come through.”
Listen at 8:07
Many companies overstate AI use despite little effect on profits or margins.
“I think a lot of it, companies are quite performative about saying they're using AI when it's making little to no difference to their P&Ls and their profit margins and whatever.”
Listen at 8:16
Many companies’ AI adoption makes little or no difference to profits or margins.
“a lot of it, companies are quite performative about saying they're using AI when it's making little to no difference to their P&Ls and their profit margins”
Listen at 8:16
Well-financed airline stocks are excellent buys after panic selling caused by unexpected bad events.
“the well-financed ones that are not going to go bust, they are brilliant stocks to buy when something unexpectedly bad causes panic selling of those shares.”
Listen at 11:39
Safestay’s hostel business model has not worked commercially.
“the business model just hasn't worked. It's rubbish.”
Listen at 15:35
Converting Safestay properties into capsule hotels could use its assets effectively.
“if you can turn them into a capsule hotel, that sounds to me a nice use of SafeStay's underutilized, inefficient properties”
Listen at 18:11
Johnson Service Group is reasonably priced and well managed.
“I still like Johnson Service Group. I think it's a reasonably priced, well-managed business”
Listen at 19:46
Johnson Service Group is reasonably priced, well managed, and improving margins.
“I think it's a reasonably priced, well-managed business that's been a margin improvement story.”
Listen at 19:47
Johnson Service Group merits renewed investor consideration after its share-price fall.
“So I think it's worth a fresh look actually.”
Listen at 20:02
Johnson Service Group merits renewed consideration after its share-price fall.
“So I think it's worth a fresh look actually. And after today's fall, you're on a PE of about 10 or 11 and you've got a 3.5% yield and a decent buyback.”
Listen at 20:02
Avingtrans’s zero-discount fundraising shows London markets are providing expansion capital effectively.
“So that is very encouraging, and it shows the London market at long last starting to do what it's actually meant to be doing, which is providing expansion capital for promising growth companies.”
Listen at 21:17
Paul views Avingtrans favorably as a quality growth company.
“So we like Avingtrans.”
Listen at 21:28
Avingtrans is a high-quality company despite not appearing cheap.
“Not optically cheap, but I think it's a real quality outfit”
Listen at 21:32
Paul is becoming more positive about MJ Gleeson.
“I think Gleason is probably— I'm warming to it now.”
Listen at 22:44
MJ Gleeson is extremely cheap and Paul Scott’s confidence is increasing.
“So dirt cheap, I think, and I'm gaining in confidence on that one slowly.”
Listen at 23:53
Impax Asset Management may be reaching a business turning point.
“And I feel this is a turning point.”
Listen at 24:13
Impax Asset Management may be reaching a business turning point.
“I feel this is a turning point.”
Listen at 24:13
Impax Asset Management’s deteriorating trend may have reversed.
“Has the worm turned? I think it might have done”
Listen at 24:45
Staffing, building-supply, and cyclical shares appear unusually cheap.
“I think that sector is just so bombed out now. Same with the building supplies and the Cyclical shares generally, I think a lot of them are just looking so cheap now.”
Listen at 27:07
The staffing sector is currently severely depressed.
“I think that sector is just so bombed out now.”
Listen at 27:07
Cyclical recovery stocks may become the next strong-performing market area.
“At some point, we're going to have to grab some bargains, I think. I think maybe that could be the next strong area, cyclical recovery stocks.”
Listen at 27:19
Cyclical recovery stocks may soon become a strong-performing area.
“I think we could be on the cusp of that.”
Listen at 27:33
Paul doubts Eco Buildings Group’s reported £300 million Chilean contract opportunity.
“I'm very skeptical on that one. I don't. I just don't believe the £300 million Chilean contract excitement over that.”
Listen at 28:51
Ceres Power is highly unlikely to become a global winner.
“Highly unlikely, I think, for that to be a global winner.”
Listen at 29:17
Victoria remains deeply indebted and financially troubled, though its situation has improved.
“So I wouldn't— it's still deeply indebted and Paul Hill pointed out today, just the finance costs alone are swallowing up operating profits. So it's still in a mess, but less of a mess than it was in”
Listen at 29:53
Paul Scott views Victrix as a credible turnaround opportunity.
“So I like that one.”
Listen at 31:40
Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.
Featuring
Mentioned
Apple Podcasts
SubstackListen to the full episode and explore every guest, topic, and moment on PodLume.