Ep. 163: Gavyn Davies on Inflation, Asset Allocation and ChatGPT

Gavyn is a Founder and the Chairman of Fulcrum – a $5bn independent asset management firm. Prior to Fulcrum, Gavyn was Chairman of the BBC from 2001. He joined Goldman Sachs in 1986 and became Partner in 1988 when he also became the Chief Economist as well as Chairman of the Research Department until he left in 2001. Gavyn was a member of H.M.Treasury Independent Forecasting Panel (1992-1997). He joined the Government’s Policy Unit as an Economist (1974) and was an Economic Policy Adviser to the British Prime Minister (1976-1979). Gavyn graduated in Economics from Cambridge in 1972 followed by two years of research at Oxford. In this podcast we discuss:

1. Difference between public and private sector economics
2. Should governments listen to markets?
3. What explains low productivity
4. Do macro traders have an edge?
5. Framework for asset allocation
6. Changes to investment approach since COVID
7. Why inflation will stay higher than many think
8. Upside risks to oil markets
9. Larry Summers vs Paul Krugman
10. Why bank crisis is not the same as global financial crisis
11. Views on private equity and venture
12. Current market views
13. Thoughts on ChatGPT
14. Why has UK economy performed better than expected
15. Does BBC have a place in streaming world
16. Books mentioned: Efficiently Inefficient (Pedersen), The Crisis of Democratic Capitalism (Wolf)

You can find Gavyn’s work here.

Read the full transcript here.

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(The commentary contained in the above article does not constitute an offer or a solicitation, or a recommendation to implement or liquidate an investment or to carry out any other transaction. It should not be used as a basis for any investment decision or other decision. Any investment decision should be based on appropriate professional advice specific to your needs.)