The Meb Faber Show - Better Investing UBS’ Mark Haefele – The New Rules of Investing From A $4 Trillion Investment Advisor | #577
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Apr 4, 2025 Mark Haefele, Chief Investment Officer of UBS Global Wealth Management, shares insights on investing with over $4 trillion in assets under management. He discusses the crucial impact of government spending on investment decisions and reveals the five D's shaping today's landscape. Mark introduces the three L’s—liquidity, longevity, and legacy—as vital principles for asset allocation. He also tackles the intricacies of transferring wealth across generations and the role of behavioral finance in shaping investor strategies.
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Government Influence
- Government spending significantly impacts investment decisions.
- Follow the money and understand where the government is allocating resources.
The Five Ds
- The five Ds—debt, deglobalization, digitization, decarbonization, and demographics—shape the world.
- These are opportunities and problems where governments invest heavily.
Client Perspective on Gold
- Some of Mark Haefele's clients view gold as a diversifier and a source of credit.
- They hold gold in vaults to secure access to funds for various purposes, including paying employees.
