The Rules of Investing Viktor Shvets: How to embrace the chaos clouding markets - Livewire Live Mini-Series
Sep 29, 2025
Viktor Shvets is Macquarie's Head of Global Strategy with nearly 40 years in investment banking and equity research. He discusses the transformative impact of AI and the Fujiwara effect on markets, emphasizing that traditional economic cycles are obsolete. Viktor highlights rising inequality linked to finance and tech, the need for resilient portfolios, and the role of bubbles in general-purpose technologies. He warns about a potential singularity in 15-20 years but remains optimistic about societal outcomes, advocating for smart stock-picking in this chaotic landscape.
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This Time Really Is Different
- Viktor Shvets argues today is fundamentally different from past eras and won't revert to conventional investment thinking.
- He says investors must rethink societies, politics, economics and investment frameworks for this new era.
Tech And Finance Reshape Labour And Capital
- Technology and financialization are twin forces that reshape labour and capital interactions.
- Shvets highlights how the information age changes what capital and labour are needed and how they perform.
The Cloud Of Finance Looms Over The Real Economy
- The value of financial instruments now far exceeds the real economy and forms a 'cloud of finance' over it.
- Shvets warns volatility in that financial cloud can easily damage the much smaller real economy beneath.
