Videos 08/05/2026 AI eats the global market The AI infrastructure providers remain supply-constrained in physical capacity and continue to raise capex plans in response to projections of increasing demand. Read More
Videos 30/04/2026 Dollar debasement and diversification The dollar is currently overvalued by approximately 20% against other major currencies according to our models. Read More
Videos 24/04/2026 The war time Fed Closure of the Strait of Hormuz implies loss of roughly 14% of oil supply probably for another month. Read More
Videos 20/04/2026 On the Horizon – April 2026 Energy prices have risen sharply enough to create a meaningful consumer shock, with dated Brent roughly doubling from early-year levels. Read More
Videos 17/04/2026 Offsetting global shocks drive asset markets The Strait of Hormuz remains effectively closed while talks and the ceasefire continue in the background. Read More
Videos 10/04/2026 The economics of Iran’s toll booth strategy The announcement of the two-week ceasefire in the US-Iran war led to relief in markets and an initial steep drop in the price of oil. Read More
Videos 27/03/2026 How will Trump’s excursion end? The war in Iran and effective closure of the Straits of Hormuz remains the dominant factor in global markets. Read More
Videos 20/03/2026 Hawkish tilt by the major central banks The past week has provided an opportunity for the major central banks to outline their initial reactions to the oil price shock. Read More
Videos 17/03/2026 On the Horizon – March 2026 In this episode of “On the Horizon,” Fawaz Chaudhry, Partner and Head of Equities, discusses: Unprecedented supply disruption with mitigation… Read More
Videos 13/03/2026 Reopening the straits is a global imperative With the Straits of Hormuz remaining closed, the chance is increasing of a further near-term upward spike in the price of oil. Read More
Videos & Podcasts 09/03/2026 When volatility becomes an opportunity In this episode of Finding Alpha James Clark and Suhail Shaikh discuss the role of liquid alternatives in portfolios, the importance of embracing complexity, and how diversifying alternative strategies can complement traditional asset classes in an environment of higher volatility and structural change. Read More
Videos 06/03/2026 “Straitened” circumstances The volatile and tragic circumstances in Iran and the Gulf region are evolving from day-to-day. The war invites comparison with past historical disruptions to oil supply – the recent increase in the price of oil is relatively limited so far. Read More
Videos 11/02/2026 On the Horizon – February 2026 Precious metals rally, supported by central-bank buying gold and structural solar/EV demand for silver and software sell-off driven by “AI loser” fears even as fundamentals hold up. Read More
Videos 06/02/2026 The transition to Warsh Several obstacles could complicate and delay the confirmation of Kevin Warsh as the new Fed Chair. Read More
Videos 22/01/2026 Unlocking Alternatives: Rethinking DC pension strategies for modern portfolios Matthew Roberts, unpacks why alternatives hold more weight than ever, and why accessing them smartly is no longer just a nice-to-have. Read More
Videos 20/01/2026 On the Horizon – January 2026 AI trade shifting from hype to real productivity gains, driving hiring freezes and slower job growth. Read More
Videos 17/12/2025 Real Asset outlook – what to watch? Earlier this year, we outlined Fulcrum’s 2025 Real Asset Outlook: a world defined by trade tensions, policy shifts, and the acceleration of digital and energy infrastructure. Now, as the year unfolds, we look at how those themes are playing out – and what investors should focus on next. Read More
Videos 15/12/2025 On the Horizon – December AI race broadens beyond Nvidia as Google ramps TPU-driven Gemini stack. Read More
Videos 14/11/2025 Deeper Dive – AI: May the force be with us Stock market valuations appear overstretched on traditional metrics such as the Shiller CAPE ratio. Read More
Videos 14/11/2025 On the Horizon – November AI infrastructure build-out remains a key driver of equity strength, with CapEx upgrades across hyperscalers and supplier. Read More
Videos 15/10/2025 On the Horizon – October AI-driven capex boom sustaining US growth despite tariff headwinds, and the high-end consumer strong thanks to wealth effect and housing. Read More
Videos 10/09/2025 On the Horizon – September Fed turning dovish as Trump appointees reshape FOMC balance. Read More
Videos 15/08/2025 On the Horizon – August Equities supported by dovish Fed tilt despite tariff-related inflation pockets. Read More
Videos 09/07/2025 On the Horizon – July Equities extended gains amidst sentiment around tariffs and the tariff rhetoric is again intensifying, sectoral levies add friction. Read More
Videos 13/06/2025 Deeper Dive: Fiscal policy and term premia Short rate expectations are fundamentally unobserved, complicating term premium estimation. Read More
Videos 13/06/2025 On the Horizon – June Equities rallied on positioning unwind and fading worst-case trade fears. Read More
Videos 15/05/2025 On the Horizon – May Oil prices are dropping due to increased supply, not just demand. Read More
Videos & Podcasts 07/05/2025 Absolute return investing, market timing and the role of luck In this episode, we delve into the philosophy of absolute return investing, we talk about the role of skill versus luck, the use of Nowcasting, learnings from the COVID-19 pandemic and the ever controversial topic of market timing. Read More
Videos 03/04/2025 On the Horizon – April Tariff regime appears harsher than worst-case forecasts and a global slowdown expected if tariffs persist. Read More
Videos 11/03/2025 On the Horizon – March 2025 Higher tariffs likely to drive stagflation in the US. Read More
Videos 18/02/2025 Deeper Dive: Trump’s plan for a sovereign wealth fund President Trump has proposed the creation of a large US sovereign wealth fund (SWF), partly funded by tariff revenue. Read More
Videos 07/02/2025 On the Horizon – February 2025 DeepSeek’s R1 model significantly reduces AI training costs. Read More
Videos 17/01/2025 Trump’s Tariffs – A Challenge to the Global Economic Order and to Orthodox Economics Gavyn Davies answers recent client questions, including global responses to Trump tariffs and potential economic impacts and broader implications of tariffs on policy and markets. Read More
Videos 14/01/2025 On the Horizon – January 2025 Cautious Equities: stretched S&P 500 valuations and heavy tech capex with delayed revenues. Read More
Videos 09/01/2025 Tariffs: Hawks and Doves in the White House President Trump’s economic team are united behind the need for higher tariff. Read More
Videos 02/01/2025 Deeper Dive- Trump’s tariffs: revenue, restriction and reciprocation The potential economic impacts of tariffs include lower growth and higher inflation. Read More
Podcasts 27/11/2024 Unlocking AI’s power in finance with Fawaz Chaudhry In this episode of Trading Tomorrow, we explore the groundbreaking ways artificial intelligence is reshaping finance with insights from Fawaz Chaudhry, the Head of Equities. Read More
Videos 14/10/2024 Q3 2024 Investment Update The market events and trends that have dominated in Q3 and the impact these had on performance. Read More
Videos 11/10/2024 Gradual Powell – but Trump lies in wait The market is now pricing in higher rates than before for the middle of 2025, reflecting a more robust labour market. Read More
Videos 13/09/2024 Harris “debate win” may not be enough The US presidential race is tight, with polls showing narrow margins. Read More
Videos 19/07/2024 Deeper Dive: China at the third plenum The Third Plenum sets out the policy direction for China for the next five years. Read More
Videos 12/07/2024 Deeper Dive: The fiscal crisis in Brazil Brazil has experienced recent volatility in its markets, including a weaker currency. Read More
Podcasts 11/07/2024 Insights from Fulcrum’s 20th Anniversary: Navigating Global Dynamics Recorded during Fulcrum’s 20th-anniversary event, Gavyn Davies, and Stephanie Flanders, debate some of the major topics that are likely to impact the financial markets over the coming months/years. Read More
Videos 10/07/2024 Q2 2024 Investment Update The trends driving performance in Q2 and outlook going into the second half of the year. Read More
Videos 21/06/2024 Deeper Dive: Strains in the Fifth Republic The upcoming elections in France have the potential to significantly impact markets and test EU structures. Read More
Videos 18/04/2024 Deeper Dive: R star and the bond market The concept of R-star, the equilibrium interest rate, and its importance in the bond market. Read More
Videos & Podcasts 29/01/2024 A macroeconomic approach to investing, with Fulcrum’s Chief Research Officer Fulcrum’s Chief Research Officer Juan Antolin-Diaz joins J.P. Morgan’s Market Matters Podcast series. Read More
Videos 05/01/2024 2023 Review and 2024 Outlook The outlook for the global economy over the next 12-18 months Read More
Podcasts 20/07/2023 Hymans Robertson Podcast – Capital markets mid-year update A discussion of the key market events of 2023 so far, a look at what the rest of the year might hold, and a discussion on the potential risks that could knock things off course in the short term. Read More
Podcasts 06/06/2023 Podcast – Money Life looking at if the stock market has gotten ahead of itself Paul Seaton, thinks that persistent inflation and a potential recession leave the equity markets vulnerable during the second half of 2023. Read More
Podcasts 12/05/2023 Podcast: Macro Hive Series on Inflation, Asset Allocation and ChatGPT In this Macro Hive Podcast series, our Chairman, Gavyn Davies, discusses a number of topics including asset allocation; ChatGPT; current market Views; and changes to investment approach since COVID. Read More
Podcasts 19/04/2023 Podcast: Behind the Balance Sheet In this Behind the Balance Sheet Podcast, our Chairman, Gavyn Davies, talks about investing, and about financial services; but also covers public service broadcasting, streaming and politics. Read More
Podcasts 17/03/2023 Square Mile – A Spotlight On: Investing in alternatives Now, with cash and bonds looking more attractive, has the role of alternatives become redundant? Read More
Videos 31/01/2023 Fulcrum’s Investment Process Explained An overview of Fulcrum Asset Management, Fulcrum’s investment committee and process. Read More
Videos 31/01/2023 An introduction with Fulcrum’s investment team Chief Investment Officer, Suhail Shaikh talks briefly through Fulcrum’s investment team and how it employs deep macro research as part of the overall investment process. Read More
Videos & Podcasts 17/02/2022 Podcast: The Money Maze In this Money Maze Podcast, our Chairman, Gavyn Davies, discusses why the inflationary pressures of today aren’t quite comparable to the 1970s… Read More
