Episode description

Mark Haefele, CIO of Global Wealth Management at UBS, shares valuable insights on the evolving landscape of investing amidst unprecedented government intervention in the economy. He emphasizes that understanding the role of government spending and its impact on market dynamics is crucial for today's investors. The conversation explores the distinction between managing wealth and managing investments, highlighting the importance of adopting a mindset of abundance rather than scarcity. Haefele also explains the significance of long-term structural trends, such as demographics and digitalization, which shape investment decisions. Throughout the discussion, he offers practical advice for navigating the complexities of investing in a world where macroeconomic factors increasingly influence outcomes.

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Episode TimeStamps:

02:30 - Introduction to Mark Haefele

05:13 - Behind the scenes of Haefele's job

06:46 - The key takeaways from Haefele's book

09:01 - The difference between managing your wealth and managing your investment

11:16 - How has the investing world changed over the years?

14:50 - Is now a culmination of previous crises?

16:58 - The 5 structural trends of the global economy and how it relates to government spending

19:58 - How they apply the 5 structural trends in a broad...