The Meb Faber Show - Better Investing
J.P. Morgan's Gabriela Santos Likes International Stocks for 2024 | #513
Dec 20, 2023
Gabriela Santos, Chief Market Strategist for J.P. Morgan Asset Management, shares her optimistic view on international stocks. Topics include opportunities in Japan and India, bullishness on Mexico due to nearshoring, and China becoming a tactical trading market.
51:10
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Quick takeaways
- International exposure in investment portfolios is valuable despite a lack of consensus among professionals and recent shake-ups in global markets signal a new regime favoring international investments.
- Monitoring credit risk and business caution, while having core fixed income as a hedge, is crucial as interest rates, refinancing for companies, and the possibility of layoffs pose potential downside risks to growth.
Deep dives
The Opportunity in International Investing
Gabriela Santos believes that there is tremendous value in having international exposure in investment portfolios, despite a lack of consensus among her professional peers. She argues that the recent shake-up in the global markets, which started in October of last year, signals a new regime that favors international investments. Gabriela highlights the positive stories happening in regions like Europe, Japan, India, and Latin America, stressing the potential for growth and alpha in these markets. She encourages investors to look beyond the recency bias and consider the advantages of diversifying internationally.
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