At the height of this eight-year bull market, we are trying to reconcile the notion that the markets and the global economy may be “as good as it gets” with the potential that as a result of technological change and increased market volatility, “the best may be yet to come.”
Chautauqua Capital Management is a long-term, quality-growth global equity investor with a generally optimistic view. However, we are less so today. Risks have increased, and the global financial markets appear to be at a heightened risk of a sell-off. Our concerns are around several factors, including the unwinding of extraordinary central bank policy, high valuations, investor compliancy, and heightened geopolitical risk.
Former Minister for the Economy, Emmanuel Macron, defeated the populist Euro-skeptic candidate Marine Le Pen. He did this by taking more than 60% of the French Presidential runoff vote.
The role that China plays in a globally diversified portfolio is on many advisors’ minds as investing in the world’s second largest economy poses notable risks. Chautauqua Capital Management’s experienced international investment team believes that the growth opportunity in China, albeit slower than in prior years, is high relative to the rest of the world. In this presentation, Chautauqua managing partner Brian Beitner will explore the opportunities and risks in China, focusing specifically on topics such as:•China’s political structure and planning process;•The destabilizing effects posed by China's high levels of debt;•Whether China can overcome its real estate bubble and absorb its industrial overcapacity to achieve its 2025 plan;•China's 38-year-old “one child” policy and its aging workforce;•The threat posed by China's endemic pollution problems on the wellbeing of its people and its economy.