The Angle from T. Rowe Price

Sir Niall Ferguson, a leading historian and author known for his expertise in financial history, shares insights on the power of understanding past market trends. He emphasizes how historical knowledge aids in navigating risks and making impactful investment decisions. Ferguson discusses the recurring themes of financial evolution and crises, the importance of probabilistic thinking, and the lessons learned from past mistakes in predictions. He also predicts key developments for 2026 and elaborates on the strategic significance of geopolitical events like Taiwan.

Priyal Maniar, an equity analyst specializing in North American energy, and Elliot Hsu, a credit analyst in energy and commodities, explore the crucial role of fossil fuels in our energy landscape. They discuss how productivity shapes long-term oil and gas prices while contrasting it with short-term market shocks like geopolitical tensions. Both highlight natural gas as a vital bridge in the energy transition. They also emphasize the importance of midstream infrastructure investments and the risks associated with capital discipline in today's energy market.

This 2025 highlights episode features memorable moments from Eric Veiel’s interviews with leading CEOs and executives across technology, health care, finance, and energy as they discuss how they navigate change, foster innovation, and adapt to disruption.

Join Sebastian Page, asset allocation expert, Ken Orchard, a fixed income specialist, and David Giroux, equity portfolio manager, as they dive into the 2026 Global Market Outlook. They explore the potential of AI as a growth driver versus the risk of a bubble. Ken discusses rising debt issuance from AI firms, while Sebastian highlights market concentration and enduring fundamentals. David emphasizes focusing on high-quality equities over macro predictions, as the team shares insights on navigating inflation risks and international opportunities in the evolving market landscape.

Eli Lilly Chair and CEO Dave Ricks joins Eric Veiel, Head of Global Investments and CIO at T. Rowe Price Associates, to share his insights on the company’s major advancements in diabetes, obesity, and Alzheimer’s treatments.

OpenAI CFO Sarah Friar joins Eric Veiel, head of Global Investments and CIO at T. Rowe Price Associates, to discuss OpenAI’s explosive growth, global strategy, technology investments, and how AI agents are reshaping business and daily life.

Annie Duke, a former professional poker player and bestselling author on decision science, joins Justin Thomson to explore the intricate art of decision making. She discusses the distinction between epistemic uncertainty and luck, emphasizing how recognizing these can enhance long-term performance. Duke compares poker strategies to investment tactics, highlighting biases like the self-serving bias in both fields. She also reveals why quitting can be a strategic asset, the dangers of doubling down on losses, and how AI can mistakenly reinforce biases in decision-making.

Jane Fraser, CEO of Citi talks to Eric Veiel, head of Global Investments and CIO at T. Rowe Price Associates, about the challenges of being a CEO, why she is optimistic about the U.S. economy, and how Citi are using AI to increase productivity.

Eric Veiel, head of Global Investments and CIO at T. Rowe Price Associates, chats with David Rubenstein, Cofounder, and Harvey Schwartz, CEO, of Carlyle about its formation, the future for private investments, and their views on philanthropy.

In this episode of “The Angle,” Jennifer Martin is joined by health care portfolio manager Sal Rais to explore how new ways of treating disease are improving human health, and how breakthrough drugs can potentially create value for biotech innovators.