Making Sense

Dive into the intriguing world of European equities as experts discuss a notable rally driven by political stability and robust earnings. Discover the dual phases of this market surge, shaped by technical and fundamental shifts. Sectors like luxury goods and banks shine as top performers, benefiting from improved consumer sentiment. The podcast navigates the complexities of the UK market amidst rising yields and political risks, while highlighting investment opportunities across Europe and the UK. An insightful exploration for institutional investors!

In this engaging discussion, Amy Flikerski, Managing Director at CPP Investments, shares her expertise in hedge fund management. She sheds light on optimizing team structures and investment strategies for both new and established hedge funds. Amy emphasizes the importance of transparency and innovative approaches to connecting with emerging managers. With insights into resilience in market strategies and the evolution of portfolio management, she highlights the industry's shift toward embracing diversity and fresh talent.

In this episode, Sunny Potharaju from the Positioning Intelligence team is joined by John Schlegel, head of the Global Positioning Intelligence team at J.P. Morgan. Their discussion focuses on the strong performance of hedge funds, particularly in crowded stocks, and the potential for continued performance into 2025. John and Sunny examine the setup for U.S. equities, noting a possible upcoming "buy the dip" opportunity, while acknowledging a more uncertain medium-term outlook.  The episode concludes with broader insights into the positioning landscape in Europe and Asia.  The Positioning Intelligence team sits within the wider Data Assets & Alpha Group.   This discussion follows episodes released on: November ’24 – A Post-Election Rally in U.S. Equities October ’24 – How High is Positioning in U.S. Equities This episode was recorded on January 13, 2025. The views expressed in this podcast may not necessarily reflect the views of J.P. Morgan Chase & Co and its affiliates (together “J.P. Morgan”), they are not the product of J.P. Morgan’s Research Department and do not constitute a recommendation, advice, or an offer or a solicitation to buy or sell any security or financial instrument.  This podcast is intended for institutional and professional investors only and is not intended for retail investor use, it is provided for information purposes only. Referenced products and services in this podcast may not be suitable for you and may not be available in all jurisdictions.  J.P. Morgan may make markets and trade as principal in securities and other asset classes and financial products that may have been discussed.  For additional disclaimers and regulatory disclosures, please visit: www.jpmorgan.com/disclosures/salesandtradingdisclaimer. For the avoidance of doubt, opinions expressed by any external speakers are the personal views of those speakers and do not represent the views of J.P. Morgan. © 2025 JPMorgan Chase & Company. All rights reserved.

The hosts delve into J.P. Morgan's 2025 Corporate Compass, highlighting economic trends like inflation and growth post-elections. They discuss the transformative potential of AI and the impact of deregulation on M&A activity. Geopolitical tensions and supply chain vulnerabilities are examined, particularly concerning China and Taiwan. Additionally, they explore shifting investment behaviors and urge corporate leaders to adapt to seize opportunities in 2025's evolving landscape.

Bruce Kasman, Chief Global Economist at J.P. Morgan, shares his insights on the projected economic landscape for 2025. He discusses the resilience of the global economy despite high interest rates and varying central bank responses. Topics include currency dynamics, particularly the yen's potential appreciation, and the robust outlook for global credit markets. Additionally, he forecasts bullish trends for gold and other metals, contrasting them with a bearish oil price prediction, underscoring the complex interplay of factors like trade policies and U.S. elections.

In this engaging discussion, Chris Pulman, Head of Macro Research and Chief Economist at Balyasny Asset Management, dives into the transformative effects of AI and automation on macroeconomic processes. He shares insights on how generative AI enhances data analysis, freeing analysts from repetitive tasks and expediting economic forecasting. Chris emphasizes the importance of marrying fundamental expertise with tech advancements while addressing the evolving role of research analysts in finance. His visionary ideas, including the concept of an 'AI economist,' spark intriguing possibilities for the future.

In this engaging discussion, Kevin Foley, the Global Head of Capital Markets at J.P. Morgan, shares expert insights on surprising market trends from 2024 and what to expect in 2025. He delves into refinancing trends, the impact of the U.S. election, and the evolving landscape of M&A and IPO activities, highlighting cautious optimism driven by economic resilience. Foley also examines the complex interplay of fiscal and monetary policies amid inflationary pressures, while cautioning about global capital risks and geopolitical developments that shape the market's future.

Debora Kantt, Head of Corporate Futurism at J.P. Morgan, specializes in strategic foresight and future-back thinking. She discusses innovative approaches to overcoming cognitive biases and the necessity for non-linear thinking in predicting futures. Debora shares insights on emerging trends in biocomputing and affective computing, emphasizing their transformative potential across industries. Alongside Eloise Goulder, she highlights the importance of recognizing weak signals and adopting adaptable strategies for future success in investing.

In this episode we hear from Elaina Elzinga, Principal and Head of Active Manager Selection at Wellcome Trust. Elaina runs through portfolio construction when spanning investments from HFs to LOs to real assets, how use of data and AI in the investment space influences allocation decisions, and how these longer term investment goals interplay with Wellcome Trust’s mission and purpose.  Elaina is in discussion with Eloise Goulder, Head of the Data Assets & Alpha Group at J.P. Morgan.     To learn more about Wellcome Trust: www.wellcome.org To learn more about the Data Assets & Alpha Group: https://www.jpmorgan.com/markets/market-data-intelligence   Related podcasts:   Asset Allocation amid Climate risks, with Fidelity International Macroeconomist – January 2024   A Macroeconomic Approach to Investing, with Fulcrum’s Chief Risk Officer – February 2024   Recording date: 17 October 2024   The views expressed in this podcast may not necessarily reflect the views of J.P. Morgan Chase & Co and its affiliates (together “J.P. Morgan”), they are not the product of J.P. Morgan’s Research Department and do not constitute a recommendation, advice, or an offer or a solicitation to buy or sell any security or financial instrument.  This podcast is intended for institutional and professional investors only and is not intended for retail investor use, it is provided for information purposes only. Referenced products and services in this podcast may not be suitable for you and may not be available in all jurisdictions.  J.P. Morgan may make markets and trade as principal in securities and other asset classes and financial products that may have been discussed.  For additional disclaimers and regulatory disclosures, please visit: www.jpmorgan.com/disclosures/salesandtradingdisclaimer. For the avoidance of doubt, opinions expressed by any external speakers are the personal views of those speakers and do not represent the views of J.P. Morgan. © 2024 JPMorgan Chase & Company. All rights reserved.

In this episode, the Data Assets & Alpha Group review recent U.S. equity strength and discuss the potential for a further rally into year-end.  They discuss implications of the U.S. elections, recent macro and micro data and sectors which look to offer better risk / reward.  They also discuss the relative underperformance of European equities and the risk / reward in China.  Andrew Tyler, head of Global Market Intelligence, and Federico Manicardi, head of International Market Intelligence, are in discussion with Eloise Goulder, head of the Global Data Assets & Alpha Group. Note that this discussion follows episodes released on: July ’24 – US Equities at All-Time Highs Jun ’24 – An Underperformance in European Equities   This episode was recorded on November 19, 2024.   The views expressed in this podcast may not necessarily reflect the views of J.P. Morgan Chase & Co and its affiliates (together “J.P. Morgan”), they are not the product of J.P. Morgan’s Research Department and do not constitute a recommendation, advice, or an offer or a solicitation to buy or sell any security or financial instrument.  This podcast is intended for institutional and professional investors only and is not intended for retail investor use, it is provided for information purposes only. Referenced products and services in this podcast may not be suitable for you and may not be available in all jurisdictions.  J.P. Morgan may make markets and trade as principal in securities and other asset classes and financial products that may have been discussed.  For additional disclaimers and regulatory disclosures, please visit: www.jpmorgan.com/disclosures/salesandtradingdisclaimer. For the avoidance of doubt, opinions expressed by any external speakers are the personal views of those speakers and do not represent the views of J.P. Morgan.