HOW EASY MONEY, CHINA SLOWDOWN & BREXIT ARE TRANSFORMING THE GLOBAL ECONOMY & INVESTMENT CHOICES

December 27, 2019

Since launching WEALTHTRACK in 2005 we have asked economic legend Ed Hyman to share his new year forecast with us, which he has done pretty much exclusively since the beginning. We also invite a leading portfolio manager to join him. For the fourth year in a row, First Eagle’s Matthew McLennan is doing the honors.

This week we are presenting the second of our two-part series focused on the global economic and investment outlook. In case you missed it, we tackled the 2020 prospects for the U.S. economy and markets last week which you can see on here or our YouTube channel. 

In part one of our 2020 Outlook edition, Hyman predicted, as he did accurately for 2019, that the longest economic recovery on record in the U.S. would continue. He sees no signs of recession and believes that growth will actually pick up! He also forecasts that Wall Street will continue to climb a wall of worry, which he will describe in detail.  

Matt McLennan is not as optimistic. One of his main concerns is the record levels of government and corporate debt in the U.S. and the problems it poses to future growth and liquidity, especially in the event of a slowdown. After the record-setting bull market run, he also believes the U.S. market is expensive. He is investing very selectively in super high quality, market-dominant companies. He has a stash of cash to take advantage of sizable market declines and a significant position in gold to offset market risk.

We will start our global outlook discussion this week with one of the biggest headline events of 2019 – Prime Minister Boris Johnson’s “Get Brexit Done” victory in the United Kingdom which Hyman thinks has worldwide significance.

WEALTHTRACK Episode #1626; Originally Broadcast on December 27, 2019

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ED HYMAN

  • Founder, Chairman, Head of Economic Research,
  • Evercore ISI

MATTHEW MCCLENNAN

Since launching WEALTHTRACK in 2005 we have asked economic legend Ed Hyman to share his new year forecast with us, which he has done pretty much exclusively since the beginning. We also invite a leading portfolio manager to join him. For the fourth year in a row, First Eagle’s Matthew McLennan is doing the honors.

This week we are presenting the second of our two-part series focused on the global economic and investment outlook. In case you missed it, we tackled the 2020 prospects for the U.S. economy and markets last week which you can see on WEALTHTRACK.com or our YouTube channel. 

Ed Hyman is vice chairman of Evercore and Founder and Chairman of its Evercore ISI division where he leads its economic research team. He has been voted the Number One Economist on Wall Street for an unprecedented 39 years by Institutional Investor.

Matthew McLennan is Head of the Global Value team at First Eagle Investment Management where he runs several funds including its flagship First Eagle Global Fund since 2008. It carries a Five Star, Bronze Medalist Analyst rating from Morningstar.

In part one of our 2020 Outlook edition, Hyman predicted, as he did accurately for 2019, that the longest economic recovery on record in the U.S. would continue. He sees no signs of recession and believes that growth will actually pick up! He also forecasts that Wall Street will continue to climb a wall of worry, which he will describe in detail.

Matt McLennan is not as optimistic. One of his main concerns is the record levels of government and corporate debt in the U.S. and the problems it poses to future growth and liquidity, especially in the event of a slowdown. After the record-setting bull market run he also believes the U.S. market is expensive. He is investing very selectively in super high quality, market-dominant companies. He has a stash of cash to take advantage of sizable market declines and a significant position in gold to offset market risk.

We will start our global outlook discussion this week with one of the biggest headline events of 2019 – Prime Minister Boris Johnson’s “Get Brexit Done” victory in the United Kingdom which Hyman thinks has worldwide significance.

Interested in Bitcoin? In this week’s exclusive EXTRA feature, Hyman and McLennan share their views on the still-dominant cryptocurrency.

As always, if you miss the show on public television, you can watch it on our website.  If you would prefer to take WEALTHTRACK with you on your commute or travels, you can find the WEALTHTRACK podcast on TuneInStitcher, and SoundCloud, as well as iTunes and Spotify.

Thank you for spending 2019 with us. Have a fabulous New Year’s celebration. We look forward to making the new year and decade ahead profitable and productive ones for all of us!

Best regards,

Consuelo

Mathews Asia

Read Keeping At It: The Quest for Sound Money and Good Government


Keeping At It: The Quest for Sound Money and Good Government
No One Investment this week.

  • Fidelity National Information Services, Inc. (FIS)
  • Apple Inc. (AAPL)
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BITCOIN VALUE

An interesting fact to ponder is that $1 invested in Bitcoin in 2010 would be worth about $90,000 today according to a recent Bank of America Global Research report. Ed Hyman and Matt McLennan share their views on the significance of the cryptocurrency.


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