Please stay tuned for important disclosure information at the conclusion of this episode.

Hi, and welcome to the Longview. I'm Dan Lefkowitz, strategist for Morning Star Indexes.

In this episode, we'll share some of our favorite clips from 2025 interviews,

with portfolio managers, economists, and investment researchers.

It's the companion to Christine Benz's best-of episode,

featuring highlights from conversations with financial planners, advisors, and retirement researchers.

We'll begin with some prescient words from Hendrik Dutoy, co-founder of Global Investment Manager

91, who spoke to Christine Benz at me at the start of the year from Cape Town, South Africa.

Hendrick talked about the appeal of emerging markets investments, both debt and equity,

asset classes that went on to have good years in 2025.

Particularly in the world of an incoming Donald Trump emphasizing U.S. exceptionalism,

a world of a strong dollar that we live today. By the way, a decade in Norfolk, we didn't have a world of a strong dollar that we lived today. By the way, a decade

and a half ago, we didn't have a world of a strong dollar. We were a decade plus ago. So in the

decade before this decade, emerging market equities outperformed developed market equity. So there's

a cycle. Yeah. There's a cycle in the world. And I just think if you're a global

investor and a very long-term investor, you've got to access all the sources of return or as many

of them as possible if the price is right wherever possible. Because then your portfolio is more

diversified, particularly, you know, hedging

yourself against regional risks.

You know, we just look at the value destruction that's happened in Eastern Europe with the

Ukraine war.

That's on the borders of Europe.

...