Money Maze Podcast

Emerging Markets, once the darling of the asset allocators world, have found themselves increasingly discarded by those same allocators. Such became the re-allocation away from them and the magnetism of the US & its technology companies, that as recently as the end of 2024, Emerging Markets were at a 50 year low, relative to the S&P 500. With some improved relative performance, it may be asked if this is a flicker, or are we at the foothills of a bigger reallocation? East Capital’s CEO, Peter Håkansson, discusses the opportunities, the lessons drawn from researching them for 3 decades, and what the drop in EM Government bond yields might be signalling. He explains why no central heating might indicate corporate failure ahead, which fundamentals matter, and why they prefer to take their bets in company position sizing, rather than in the country weights. He also discusses Frontier markets, the impact of foreign exchange and as a music lover he is, “reasons to be cheerful!” (Ian Dury & the Blockheads)The Money Maze Podcast is kindly sponsored by Schroders, IFM Investors, World Gold Council and LSEG.Sign up to our Newsletter | Follow us on LinkedIn | Watch on YouTube 

As Mike Milken said on this podcast, “the greatest achievement of humankind in the 20th century, was the doubling of life expectancy.” If living longer seems a powerful goal, the caveat would be only if it goes hand in hand with being healthy whilst being older, AND in not running out of money!In this conversation, Dr Andrew Steele examines, diagnoses, evaluates, and prescribes the implications, actions, benefits, costs and possibilities associated with living longer, healthier lives. He examines the financial and health aspects, the drugs already breaking new ground, why reasons for optimism are well grounded, and the associated leaps in scientific understanding.  Subscribe to stay up to date with our range of fascinating interviews, featuring some of the biggest names in global finance and business!The Money Maze Podcast is kindly sponsored by Schroders, IFM Investors, World Gold Council and LSEG.Sign up to our Newsletter | Follow us on LinkedIn | Watch on YouTube 

Nicky Gumbel is a Church of England priest and the visionary behind the Alpha Course, a transformative program that redefines Christianity for modern audiences. He shares his inspirational journey from a barrister to a clergyman and details how Alpha became a global phenomenon. Nicky discusses the program's accessibility, its appeal to youth searching for purpose, and its impact on communities, including prisons. He emphasizes the importance of charismatic leadership, generosity, and the quest for belonging in today's society.

Cathie Wood, the founder and CEO of ARK Invest, is a pioneer in thematic investing focused on disruptive innovation. She shares insights from her career, inspired by Arthur Laffer, and discusses ARK's unique principles of integrating macro themes with bottom-up analysis. Cathie delves into the potential of technologies like AI, multiomic sequencing, and energy storage. She also addresses the challenges of market drawdowns and the importance of emotional resilience in investing. Her bold approach encourages women to explore innovation-driven roles in finance.

Blair Jacobson, Co-President of Ares Management and expert in alternative investments, shares insights on private credit and BDCs. He explains Ares' high-yielding business model and the benefits of being a public company. The conversation dives into Europe's banking reliance vs. private credit, highlighting opportunities in the middle market. Blair details Ares' sports investments, including a significant stake in Chelsea FC, and discusses the growth of credit secondaries, emphasizing risk management and investor education in a changing landscape.

Sir Chris Hohn, founder of TCI Fund Management and the Children's Investment Fund Foundation, is renowned for his strategic insights in investing and philanthropy. He shares his philosophy of prioritizing risk over return and emphasizes the importance of long-term patience in investment strategies. Discussing his shift to philanthropy, he highlights formative experiences that drive his commitment to global development. Sir Chris also warns against AI's limitations and stresses the need for heartfelt purpose in both investing and giving.

Brian Menell, CEO of TechMet, dives into critical mineral supply chains and the urgent need for large capital in mining. Per Lekander, from Clean Energy Transition, discusses the economics of energy transitions while highlighting the interplay between climate and security. Kristin Eshak Weldon emphasizes sustainable investment strategies, mentioning the importance of energy affordability. Bill Orum shares insights on how long-duration risks are priced in infrastructure investments, making a compelling case for engagement in critical minerals as a path forward.

Maggie Fanari, CEO of RIT Capital Partners and former investment expert at Ontario Teachers, dives into her career journey and the unique identity of RIT. She highlights their flexible asset allocation strategy, combining public equities with an impressive private investment portfolio, including stakes in innovative sectors like fintech and AI. Maggie also discusses RIT's intriguing 30% discount to NAV and the importance of partnerships in enhancing investment opportunities. Plus, she shares insights on navigating currency risks and her advice for young investors.

Sir Nick Clegg, former leader of the UK Liberal Democrats and Deputy Prime Minister, shares insights from his transition to Silicon Valley as a senior Meta executive. He candidly discusses the challenges of content moderation, including the controversial removal of Trump from Facebook. Clegg warns about the balkanisation of the Internet and debates the risks and realities of AI, highlighting Europe's technological shortcomings and the dominance of US and Chinese tech. His thoughts offer a critical lens on geopolitics and the future of digital connection.

Today’s episode started as “Good Investor, Poor Communicator”, but as we researched this topic ahead of the conversation it became a bigger theme than simply, why at times, great investment managers are often less effective communicators. In this conversation, we explore how communication is changing; first in the asset management community as firms adapt, and acknowledge the importance of their brand, through to the newer ways they seek to communicate, explain and position their enterprises. Jen then expands into other incredibly important areas for young and old. In an A.I integrated world why the power of the spoken word assumes greater importance. The tension of “literacy vs oracy”, how to think about “nailing the narrative”, “battle the sea of sameness”, “approach people in the hallway”, “navigate a tough capital-raising environment”, deal with “glass ceilings” and maintain “humility”. And, of course, the two most important words in business… The Money Maze Podcast is kindly sponsored by Schroders, IFM Investors, World Gold Council and LSEG.     Sign up to our Newsletter | Follow us on LinkedIn | Watch on YouTube