Perspectives: Episode 87– Doughnut Worry – Obesity Drugs Challenge AI in the Mega Theme Stakes
'Perspectives' by Escala Partners
Release Date: 11/14/2023
Perspectives: In Conversation with Alternatives and Private Markets specialist Craig Balenzuela from Goldman Sachs Asset Management
'Perspectives' by Escala Partners
In this episode, Escala Partners Investment Analyst Stephen Dickinson talks to Craig Balenzuela, Managing Director within Goldman Sachs Asset Management Alternatives and Private Markets Client Solution Group. Craig discusses the growth in the private credit landscape, the implications of the changing macro environment for private credit and why not all private credit is made equally.
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Perspectives on Zero: Episode 12 The Role of Nuclear in the Energy Transition
'Perspectives' by Escala Partners
In this episode, Investment Analyst Darragh Kennelly talks to James Tsinidis of Munro Partners to discuss the role of nuclear power in the energy transition and the growing demand for reliable baseload power especially from some of the worlds largest tech companies. They also discussed the benefits of nuclear power and the key components of the nuclear sector to consider. Important Information The information contained in this podcast reflects, as of the date of publication, the views of Munro Partners and sources believed by Munro Partners to be reliable. There can be no guarantee that any...
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Perspectives: Episode 108 – From the mailroom to the boardroom: playing the long game
'Perspectives' by Escala Partners
This week Escala Partners CIO, Tracey McNaughton, reflects on playing the long game with Carol Geremia, President of MFS Investment Management. Passive investing has gone from 6 to 60% in the past 30 years. Investment horizons have fallen from 5 years to 5 months. What are the consequences for investors, fund managers and corporations alike? And what is the one thing a good leader must have?
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Perspectives: Episode 107 – Can we afford Trump?
'Perspectives' by Escala Partners
This week Escala Partners CIO, Tracey McNaughton, discusses the implications of the US presidential election including the need for governments to open their wallets even more – ‘spend baby spend’. (0:56) The US election result is in. Probably the biggest surprise was how convincing a win for Trump it was. (3:07) The market reaction to the election result was pretty dramatic. Bitcoin has hit a new all-time high and DOGEcoin is up 150% since Elon Musk was named to help lead the new Department of Government Efficiency or DOGE for short. (7:19) That is a long list of winners....
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Perspectives: Episode 106 – The US election special
'Perspectives' by Escala Partners
This week Escala Partners CIO, Tracey McNaughton, discusses the upcoming US presidential election, why the polls are often wrong, the bi-partisan support for nuclear energy, and why the bond and equity markets disagree on what a Trump presidency could mean. (0:57) Tracey, we are devoting this entire podcast to the US election given its importance. It’s been quite a journey so far – two assassination attempts, the last minute withdrawal of Biden, the late entry by Harris. So far though, neither candidate has been able to land a knockout punch. (2:54) What are your thoughts on the outcome...
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Perspectives: In Conversation with Property Specialist Andrew Ballantyne from JLL
'Perspectives' by Escala Partners
In this episode, Escala Partners Investment Analyst Stephen Dickinson talks to Andrew Ballantyne, Head of Australasia Research for JLL. Andrew discusses how JLL is currently viewing the office sector, some of the underlying structural drivers in the sector and the outlook ahead.
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Perspectives: Episode 105 – The memo the RBA missed
'Perspectives' by Escala Partners
This week Escala Partners CIO, Tracey McNaughton, discusses how the US central bank overdelivered on interest rate cuts last week and why the Reserve Bank in Australia is under-delivering. (0:54) The Fed over-delivered in its first rate cut in four years lowering interest rates by half a percent last week. Such a sizeable rate cut is normally associated with a crisis. (4:27) It’s not just the US. Europe also cut rates this month. (5:33) We had the Reserve Bank meeting today. Despite the Greens urging otherwise, they decided to keep interest rates unchanged at the 12-year high of 4.35%....
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Perspectives: Episode 104 – Can I get a refund?
'Perspectives' by Escala Partners
This week Escala Partners CIO, Tracey McNaughton, discusses the high price Australians are paying to the government for managing our economy and why we should probably be asking for a refund. (0:52) August has been a very volatile month. The start of September looks like it will be more of the same. How are you and the CIO team navigating these markets? (4:22) Do you expect this volatility to continue? (6:04) Another question that came up recently at a client lunch, Tracey, was around population growth. If declining population in places like China and Japan is bad, why isn’t growing...
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Perspectives: Episode 103 – Loose on the bars
'Perspectives' by Escala Partners
Loose on the bars. That is what Escala Partners CIO, Tracey McNaughton, is telling clients as they navigate the recent bout of financial market volatility. And every revolution leaves past corporate champions behind. Who will be left behind in the AI revolution? (0:56) Lets talk about the volatility in markets. How did we come to witness the largest 2-day fall in Japanese equities in history? (5:47) This is a reminder of how volatile public markets can be. Is this why we are seeing a rise in private market activity? (8:54) Tracey let’s move onto the “catastrophic” earnings report from...
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Perspectives: Episode 102 – An election correction, a tech-check or just a Fed-ache?
'Perspectives' by Escala Partners
In this episode, Escala Partners CIO, Tracey McNaughton, looks at what is driving recent market volatility - an election correction; a tech-check; or just a Fed-ache. The countdown clock has begun - what are the key battleground states in the US election? (0:52) Market volatility has picked up in the past few weeks, particularly since the July 11 release of the US inflation report. (5:42) Earnings season has begun in the US as you say. We are about halfway though. What are some of the themes you are picking up on so far? (12:21) This is a busy week for the market. What else have we got coming...
info_outlineIn this episode, Escala Partners CIO, Tracey McNaughton, discusses the implications of investing in a world where governments and their debt burdens are getting bigger at the same time as consumer waistbands are getting smaller.
(0:50) Interest rate cut expectations are being priced back into the market for 2024 again. Despite this, the market was put back in its place last week by Fed Chair Jay Powell.
(2:53) We have been talking a lot about fiscal policy recently in our meetings. Governments everywhere seem to be in a spending mood. This will act like a cross current, won’t it – pushing against the central bank attempts to slow growth to rein in inflation.
(6:02) You have called this a fiscal policy renaissance. For the first time in several decades, fiscal policy is taking a lead role in driving growth in the economy. What are some of the investment implications of this?
(8:09) The investment implication that comes from this is the attractiveness of investing in floating rate bonds.
(10:32) So, what is the catalyst – is it valuation or is it something more?
(12:17) Earnings season in the US is almost over. Were there any surprises?
(15:29) We can’t finish, Tracey, without talking about the latest mega trend sweeping the investment world – GLP1’s. What are GLP1s and why are they having such an impact?