Merryn Talks Money The Best Investment Ideas Outside the US
18 snips
May 6, 2025 
In this discussion, Louis-Vincent Gave, CEO of Gavekal and an expert in global investment, shares insights on the shifting landscape of investing beyond the U.S. He highlights the decline of U.S. exceptionalism and the growing dominance of China in technology and AI. Gave emphasizes emerging opportunities in countries like India and Brazil, while cautioning about the U.S. dollar's potential wobble. He also offers a bullish view on commodities and the importance of re-evaluating energy strategies in Europe amidst global challenges.
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End of US Exceptionalism
- US exceptionalism, driven by a shale oil boom and tech dominance, is fading as Chinese AI challenges US tech profits.
- Political unpredictability and high US market valuations versus GDP signal capital looking to invest elsewhere.
US Faces Recession Risks
- A proper US bear market would require a recession, which is likely as key growth drivers fade.
- US policy confusion mirrors Japan's 90s stagnation, suggesting caution ahead.
Europe's Energy Security Shift
- Although the US still has cheaper energy, Europe is poised for improved energy security and lower prices via LNG and infrastructure investments.
- Europe will prioritize energy grid upgrades over military spending as energy remains central to economic activity.
