The Geopolitical Shock Playbook (Mike Wilson, Morgan Stanley) | #623
The Meb Faber Show - Better InvestingShow Notes
Watch on YouTube. My guest today is Mike Wilson, Morgan Stanley’s Chief U.S. Equity Strategist and Chief Investment Officer.
In today’s episode, Mike Wilson explains how a rolling recession has given way to a staggered recovery, and why he expects leadership to broaden beyond mega-cap stocks into small caps, cyclicals, and international markets. He highlights growing risks from AI disruption, private credit weakness, and the Iran conflict.
To close, Mike discusses a shift beyond the traditional 60/40 portfolio toward a more flexible 60/20/20 approach that includes assets like gold.
(0:00) Starts
(1:31) Mike Wilson on rolling recessions and rolling recoveries
(5:28) Market implications of Iran conflict
(9:52) Market cap weight vs. equal weight indices
(15:41) Thoughts on the Fed
(20:01) Is 60/20/20 the new 60/40?
(23:23) Geopolitical shocks
(35:48) AI's impact and bullish on healthcare
(42:03) Outlook for global economic recovery
-----
Follow Meb on X, LinkedIn and YouTube
For detailed show notes, click here
To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com
-----
Sponsor: Alpha Architect - To learn more about CAOS, read the Fund's prospectus and important information, visit funds.alphaarchitect.com/caos
Follow The Idea Farm: X | LinkedIn | Instagram | TikTok
-----
Interested in sponsoring the show? Email us at [email protected]
-----
Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.
-----
Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!
-----
Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).
More from The Meb Faber Show - Better Investing
My guest today is Vincent Deluard, Director of Global Macro Strategy at StoneX.
My guest today is Dirk Willer, Head of Global Macro, Asset Allocation and Emerging Market Strategy at Citi.
My guest today is Andrew Ang, Founder of Tau Balance and professor at Columbia University. He previously ran factor investing at BlackRock.
In the latest podcast episode, I discuss five Cambria funds that each apply the same shareholder yield discipline, emphasizing companies that return cash to shareholders through dividends and buybacks.
In today's episode, Dave draws on 45 years and over 100 countries to argue why scarcity still matters in a world obsessed with infinite money and AI. He makes the case that the world trades at a discount while America sits at record valuations.