The winds have changed

The following presentation was delivered at PortfolioConstruction Forum Summit 2017, the theme of which was "The winds of change".

Synopsis
The tectonic plates of the political and economic landscape are rupturing as the winds of change herald a new geopolitical reality of anti-establishment populism and nationalism. The cosy Post-Cold War liberal and globalist consensus has fractured and we must now brace for a period of instability as we search for a new political and economic equilibrium. The good news is that after eight long years of Alice in Wonderland monetary policy, animal spirits have emerged from hibernation and lower for longer, is no longer. The first derivative of reflation is easy: stronger growth, higher inflation and rising bond yields. The second and third derivatives are more complex as the first derivative collides with record debt and the third derivative ushers in a new political reality of instability. Brace yourselves for a wild and entertaining ride.

Presenter
Jonathan Pain, Author, The Pain Report (Sydney)

Paper(s)
Does political analysis matter when investing?

Presentation - Recorded 14 February 2017 (22 mins)

  Slides       Podcast

More info - Contact Jonathan Pain