Portfolio Manager David Eiswert says it’s becoming increasingly valuable to own disruptive companies gaining market share, even if they trade at a premium.
Key Insights:
- U.S. GDP growth is decelerating, having peaked as a result of corporate tax cuts and fiscal stimulus globally
- Europe stands to benefit from an easing in trade tensions and stabilising Chinese growth
- With innovation trends leading to dispersion between winners and losers, investors should seek to be on the right side of change
An ongoing cycle
The team’s outlook for the global economy is informed by a view that the world continues to pass through an ongoing cycle of Crisis, Response, Improvement and Complacency.
Where are we now?
The world is now moving out of stimulus-driven Complacency and back into the Crisis and Response phases.
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