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The Famous Five Behold Mapping The Road Ahead

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The Famous Five Behold Mapping The Road Ahead
Subhalakshmi Dey - 01 March 2021

Ray Dalio
Founder, Co-Chief Investment Officer and Co-Chairman, Bridgewater Associates

Think of currency more than assets

Investors devote a lot of attention to their asset allocation and not enough to their currency allocation. Currency depreciation is a desirable and hidden way to deal with a debt problem. Nobody actually says who’s paying the price. A currency decline is stimulative for the local economy and drives asset prices up; the wealth destruction is indirect. This is a big deal.

Karin Risi
Managing Director, Vanguard

Have the right allocation to stocks at every age

Benchmarks and trends are useful tools. But what’s most important is that we can use the information to enable investors to make the best decisions for their goals. Have the right allocation of stocks at every age, the appropriate mix of index and active strategies, and the right level of support when rebalancing and trading.

Quincy Krosby
Chief Market Strategist, Prudential

Too much of a good thing

Each market chapter is unique, with distinct contributing characteristics and events, but there’s typically a recurring theme of a shift in monetary policy that telegraphs tightening on the horizon. With the prospect of another stimulus package, amid low interest rates, concerns are growing louder over Fed’s easy money and fiscal largesse.

Larry Fink
Founder, Chairman and CEO, BlackRock 

A tectonic shift accelerates

Climate risk is investment risk. As markets started to price climate risk into the value of securities, it sparked a fundamental reallocation of capital. I believe that this is the beginning of a long but rapidly accelerating transition – one that will unfold over many years and reshape asset prices of every type. Climate transition presents a historic investment opportunity.

Dishmon Randall
Senior Portfolio Manager, Invesco

Cyclical is all

Debates over growth versus value investing styles or whether the US or international markets will dominate miss the point. Markets are going through structural — and not cyclical — changes. Cyclical separates the world into growth and value, such stocks typically return to their long-term average levels after up markets or down markets. It is structural that separates the world into winners and losers.

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