Amlan Roy - Monetary Policy is Very Ineffective In A World Where We Are Getting Very Old | #174

The Meb Faber Show - Better Investing

The Idea Farm

Management, Investing, Business

4.8 • 978 Ratings

🗓️ 11 September 2019

⏱️ 58 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In episode 174, we welcome our guest, Amlan Roy. Amlan and Meb start the conversation off with a discussion on demographics, why we need to understand them, and the idea that monetary policy is relatively ineffective in the demographic environment the world faces today. Amlan then lays out some prescriptions for some of the issues he’s seeing today, including, the idea of doing away with traditional retirement ages, more fairness toward women, and updated immigration policies. Meb and Amlan then get into negative yielding interest rates, the impacts they have on investors, and how we should be thinking about economic and finance theory. He also hits on falling productivity growth, and a trying to solve that issue in China, India, and the rest of the world by bringing more young people and women into the workforce. Amlan then shifts to some additional thoughts on growth, and his idea of the “Demographic Dividend.” Don’t miss all of this and more in episode 174, including some of Amlan’s most memorable and important market calls. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Mebb Fabor Show, where the focus is on helping you grow and preserve your wealth.
0:12.7	Join us as we discuss the craft of investing
0:15.6	and uncover new and profitable ideas,
0:18.4	all to help you grow wealthier and wiser.
0:20.8	Better investing starts here.
0:23.0	Mepp Faber is the co-founder and chief investment officer at Cambria Investment Management.
0:31.0	Due to industry regulations, he will not discuss any of Cambria's funds on this
0:35.5	podcast.
0:36.8	All opinions expressed by podcast participants are solely their own opinions and do not
0:41.0	reflect the opinion of Cambria Investment Management or its
0:43.6	affiliates. For more information visit cambria Investments.com.
0:49.4	These statements represent personal views of Amlon Roy as a global researcher and not those of State Street.
0:58.6	Hey welcome podcast listeners. We got an awesome show for you today. I met our guest at the milken
1:04.8	conference over a few glasses of wine got to see him talk. He's the head of
1:08.6	global macro policy and senior MD at State Street Asset Management Division.
1:13.1	He leads the research team there,
1:14.3	focused on macro, policy, politics, retirement,
1:17.8	demographics, all sorts of things,
1:20.0	serving internal external clients
1:22.0	in over 30 countries.
1:23.4	Prior to that, he served his head of global demographics and pensions,
1:27.5	MD at Credit Suisse, and prior to that he is in academia too.
	...

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