In this new book, we review both our concerns and the factors of growth around the world which contribute to our overall optimism. And, in so doing, we present our "investment roadmap" for the coming years.
At Gavekal, we have argued at length over recent years that one of the driving forces of the financial markets was the "financial revolution" which was quietly moving from the US and other Anglo-Saxon countries unto the rest of the world. Today, this financial revolution seems to be, at the very best, "put on hold". So what impact should that have on our investment decisions?
Just as importantly, this very important change to the investment environment is not the only paradigm-shifting event that has occurred since we published Our Brave New World (now out of print but available for free download from our website) and The End Is Not Nigh. And in periods of drastic change, it is easy to focus on the negative and be overwhelmed by the general media’s natural tendency to spread doom and gloom. And undeniably, there are serious reasons to be concerned:
Still, for every reason to be negative, we find some reasons to be positive. These reasons include the fact that more people are getting richer, and freer, than the world has ever seen, and all at the same time. The fact that these people all around the world are communicating, and exchanging ideas and goods in a way that would have been deemed impossible just a few years ago also engenders tremendous growth. The fact that companies are having to run ever faster, and become ever more efficient to survive and thrive is also positive for the global economy; Indeed, for most managements, complacency is no longer the option it was twenty years ago.
In this new book, we review both our concerns and the factors of growth around the world which contribute to our overall optimism. And, in so doing, we present our "investment roadmap" for the coming years.
