Bloomberg Talks Norges Bank CEO Nicolai Tangen Talks Tech-Driven Loss
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Apr 24, 2025 Nicolai Tangen opens up about Norway's massive sovereign wealth fund suffering a $40 billion loss, dissecting the state of the markets. He shares insights on long-term investment strategies in U.S. assets and the critical need for global diversification. The conversation navigates through challenges posed by inflation and supply chain issues, highlighting potential shifts in asset allocations. Tangen also evaluates the role of major tech companies and discusses the limitations of traditional safe havens like gold and cryptocurrencies.
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Long-Term US Investment Strategy
- Norges Bank views its investment in the U.S. as a long-term strategy despite recent market shocks.
- They consider possible negative impacts like trade block disentanglement but retain a patient outlook.
Extensive Global Diversification
- Norges Bank's portfolio is highly diversified globally, owning significant shares in listed equities worldwide.
- This extensive diversification spans equities, bonds, and valuable real estate assets.
Reinvesting in US Stocks
- Norges Bank plans to correct its underweight position in U.S. stocks by increasing investment.
- They see large American companies as excellent long-term investment opportunities despite current uncertainties.