Insights Now How research informs investment strategy
Nov 6, 2025
David Kelly, Chief Global Strategist at J.P. Morgan Asset Management, shares his insights on navigating today’s investment landscape. He discusses how fiscal and trade policies shape asset allocations, the influence of AI on market dynamics, and the need for diversification beyond traditional models. Kelly also warns about potential market bubbles from Fed rate cuts and highlights tax-smart rebalancing strategies. With a focus on resilience against inflation and market shocks, his outlook provides valuable guidance for investors.
AI Snips
Chapters
Books
Transcript
Episode notes
Policy Shapes Modern Allocation
- Policy now drives asset allocation beyond monetary policy, including fiscal, trade, and immigration considerations.
- Diversification is shifting away from 60/40 toward alternatives, real assets, and hedges to build resilience.
Embed Long-Term Themes In Strategy
- Long-term themes like economic nationalism, fiscal activism, and AI are central to strategic allocation for the next decade.
- Tactical moves depend on what the market has already priced and where fresh information creates opportunity.
Strong Returns Raise Risk Questions
- Markets enjoyed strong equity and fixed income returns, prompting concern about elevated risk and potential corrections.
- International equities, including Japan and EM, are highlighted as underappreciated opportunities.
