Money Talks: The new rules of investment
Money Talks from The Economist
The Economist
4.4 • 1.2K Ratings
🗓️ 30 November 2022
⏱️ 40 minutes
🧾️ Download transcript
Summary
High inflation, amid warnings of a global recession, is forcing investors to tear up the rule book. Since the financial crisis, bonds have been seen as a safe bet—even if they did not promise much of a return. Equity markets, led by soaring tech stocks, were where fortunes were made. Both have plunged this year.
In a world where rising interest rates have left governments worrying about how to afford their debts, and companies will struggle to raise cash, investors need new strategies.
On this week’s podcast, hosts Alice Fulwood, Soumaya Keynes and Mike Bird ask what those new rules of investing look like. Wei Li, global chief investment strategist for the world’s biggest investor, BlackRock, argues this new macroeconomic era is here to stay. And Mohamed El-Erian, chief economic adviser to Allianz, says investors need to focus on picking winners within stocks and bonds.
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Transcript
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| 0:00.0 | Money talks from the economist is sponsored by Invest Puerto Rico. |
| 0:06.0 | More than just a Caribbean paradise, Puerto Rico is a business powerhouse. |
| 0:11.0 | This U.S. territory is a fast-growing hub for innovators. |
| 0:15.0 | Puerto Rico boasts numerous tax credits, business incentives, |
| 0:19.0 | and world-class talent that take your business to the next level. |
| 0:23.0 | Find out why at InvestPR.org. |
| 0:26.0 | Gamechangers, welcome home. |
| 0:30.0 | For most of the 20th century, inflation haunted investors. |
| 0:42.0 | In the years after the Second World War, pent-up demand mixed with supply shortages |
| 0:47.0 | sent annual inflation in America to over 20%. |
| 0:50.0 | Mrs. Josephine Wiley of Pittsburgh, like most of her fellow Americans confronted with rising prices, |
| 0:56.0 | finds that the problem of living within the family budget requires all her resourcefulness, |
| 1:02.0 | as well as all heretic cash. |
| 1:05.0 | The global oil shock caused prices to surge in the 1970s, |
| 1:09.0 | a period now known as the Great Inflation. |
| 1:12.0 | The organization of petroleum exporting countries imposed its boycott, |
| 1:16.0 | and within a year raised prices more than 300%. |
| 1:22.0 | And in the 1980s, with Ronald Reagan as their new president, |
| 1:25.0 | Americans grappled with soaring prices again. |
| 1:28.0 | It's time to recognize that we've come to a turning point. |
| 1:32.0 | We're threatened with an economic calamity of tremendous proportions, |
| 1:36.0 | and the old business's usual treatment can't save us. |
... |
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