Bloomberg Surveillance Bloomberg Surveillance TV: September 10th, 2025
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Sep 10, 2025 Jim Zelter, President at Apollo Global Management, shares his insights on the US economic outlook, delving into the intricate dance of inflation and the labor market. He discusses the pressures of stagflation and its impact on the Fed's decisions. Zelter also examines shifting investment strategies in light of rising interest rates, and the growing role of alternative investments in portfolios. Additionally, he touches on the challenges faced by tech giants like Apple, providing a nuanced view of economic and market dynamics.
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New Market Playbook For Higher Rates
- Apollo argues the era of free money is over and inflation is structural rather than transitory.
- That change forces a new investment playbook beyond the traditional 60/40 portfolio approach.
Liquidity Now Defines Public Vs Private
- Liquidity, not just risk, now distinguishes public and private assets according to Jim Zelter.
- Many formerly 'safe' public companies can still be volatile and disrupted despite ratings.
Kodak And Xerox As Cautionary Examples
- Jim Zelter recalled Kodak and Xerox as once-safe companies that missed disruption.
- These examples illustrate how investment-grade status doesn't guarantee survival.