In the space of little more than two months, Trump has turned the world inside out. The Trump shock is the functional equivalent of a full-blown crisis. Concerns over the global economic forecast seem almost trivial.
This narrative has been doing the rounds for a while and - in terms of unlisted property at least - has been fairly close to the mark. However, going forward, it has become a really unhelpful idea.
If there is one thing those in the finance industry should understand, it is how markets function. The starting point is the Efficient Market Hypothesis - however EMH is amazingly poorly understood.
According to the latest generation of behavioural finance theory, individuals seek life wellbeing (underpinned by financial wellbeing) which additionally incorporates non-financial factors.
If MAGA ultimately helps everyone break their dependency on the US consumer, the rest of the world will have much to thank Trump for. The only losers will be ordinary Americans.
The new US administration could upend assumptions about global growth and markets for years to come. Investors need to prepare portfolios now for a new investing era.
Near- and medium-term gaps in current market narratives and perceptions lead to a simple conclusion - it is time for caution.
Extraordinary and interrelated developments are unfolding in politics, geopolitics and deep tech innovation. Trump's disruptive approach has enormous implications for global markets.
By combining AI, alternative data sets, and human expertise, investors can identify new themes, access untapped markets, and capitalise on market dislocations.
As inflation has re-emerged, interest rates have risen and asset prices have levelled off and even declined, a withdrawal of capital from commercial real estate lending markets is creating a new opportunity to be greedy when others are fearful.
For the last decade, technology companies have been rallying. But quality investing is more than just tech. Defensive equity growth opportunities can fill a defensive gap in portfolios.
The heightened VUCA macro environment, coupled with an unprecedented set of industry and government catalysts, is creating a generational investment opportunity for infrastructure.
As the private credit sector grows, it faces increasing media scrutiny, making a manager's approach to disclosure of default rate and causes an increasingly important consideration for investors.
The US (and soon rest of world) hasn't seen this much demand for power since World War 2. While this introduces investment possibilities for many segments, listed infrastructure is disproportionately well-placed to fill this gap.
Investors should pivot exposure to the growing number of high quality, mid-cap companies that have reinvested to develop market-leading products with global opportunities and long runways for growth.
At current valuations, high quality core bonds offer attractive yields relative to cash, as well as the prospect of higher and less volatile returns than equities over the next five years.
Direct lending has become the fastest-growing segment within private credit offering the opportunity for premium yields that are often unavailable in the public credit markets.
As investors chased Mag7, a wide valuation gap opened up. Investors need a fresh growth narrative. TICKing off four markets - China, India, Korea, and Taiwan - is the most efficient starting point and opportunities abound.
The lower coverage of SMID Caps means greater opportunity to exploit market mispricing relative to large caps.
In mid-market Australian private equity, where inefficiencies and hands-on value creation thrive, outsized returns are being captured beyond the public eye.
Understanding the drivers of and outlook for the markets is essential to multi-asset, multi-manager investing (MAMMI). However, MAMMI is full of traps. As the saying goes "It's simple, it's just not easy!".
As we progress through the Trumpification of markets, the political and information prism through which we view the world will help us mind the gap(s) between market perception and investing reality.
Our end of day session revealed delegates' views on which of the high conviction theses they'd heard through the day they intended to investigate further or implement in practice.
Our post-program Implementation Zoominar led by consulting firm, InvestSense, drew together the key takeouts from Markets Summit 2025 and the practical implications for client portfolios, turning the insights from Markets Summit 2025 into actions.
Our Markets Summit program kicks off with a video retrospective of the key events of the prior year...
Equity investors should set aside their fears of a second Trump presidency and focus instead on the structural opportunities presented by decarbonisation.
With monetary policy easing set to provide an additional tailwind for smaller companies, now is the time for practitioners to consider increasing global small caps exposure in portfolios.
Trump 2.0 is starting where Trump 1.0 ended – with distortions, convoluted logic, and the related risk of major policy blunders.
The 2024 US election result could potentially upend assumptions about global growth and markets in the years ahead. The next four years could be Volatility, Uncertainty, Complexity and Ambiguity (VUCA) on steroids!
The economic damage Trump could cause will be moderate, according to Woody Brock. His bigger concern is what could go wrong with foreign policy under Trump because, in Woody's view, the probability of a global war is higher than it has been in decades.
Irrational markets are easy to beat? You would think so. But, to quote Yogi Berra, "In theory, theory and practice are the same. In practice, they're different."
2024 was a year of confusing, inspiring, depressing, and energising developments on many fronts. It’s in the spirit of thinking differently and embracing uncertainty that I offer you this year’s set of global developments to watch over the next five years.
What impact will the next US administration have on economic growth and inflation? The answer is not yet clear, because while some of President-elect Donald Trump's proposed policies would boost growth and reduce inflation over time, others will have the opposite effect.