There are a few moments in one’s lifetime when the geopolitical and economic backdrop truly changes. COVID-19 and its aftermath are one of those moments. I call it “The Pandemic Pivot”.
The combined shocks of a highly contagious and in some cases deadly virus, global economic shutdown, rising populism, and global unrest are upending the old world order and introducing new disruptive dynamics yet to be fully realized.
In the meantime each of us has to live our lives, do our work and plan and invest for the future as best we can.
This week’s guest is one of them. He is Matthew McLennan, a noted global manager, Head of the Global Value Team at First Eagle Investment Management
Long before this crisis McLennan has been talking about emerging global geopolitical and financial risks. He says the pandemic has exposed a number of vulnerabilities that we will discuss, as well as how he is managing through them. One particularly interesting aspect of his strategy is a renewed emphasis on gold as a long term substitute for cash.
WEALTHTRACK Episode #1703; Originally Broadcast on July 17, 2020
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MATTHEW MCLENNAN
- Portfolio Manager,
- First Eagle Global Fund
LOOK TO WINSTON CHURCHILL FOR INSPIRATION
READ: The Splendid and The Vile: A Saga of Churchill, Family and Defiance During The Blitz
BY ERIK LARSON
LISTEN TO: Never Give in! Winston Churchill’s Greatest Speeches
BBC RADIO COLLECTION
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ENDURING VALUE
Buy gold bullion
- Endured for centuries
- Better long term real returns
- Naturally defensive
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PANDEMIC IMPACT
Matt McLennan has spent his career traveling to visit clients and businesses. COVID-19 stopped all of it. We asked him if he envisions making any permanent changes.
