This week, we speak with Neil Dwane, a portfolio manager and global strategist with Allianz Global Investors, which manages about $591 billion dollars. He is a member of AllianzGI’s equity investment management group.
The London-based strategist notes the many parallels between the way investment industries operate between UK vs USA. He discusses Brexit, and why it such a confusing political scenario. Either a new Brexit deal or a hard Brexit, each situation will be problematic. The uncertainty is currently hurting the economy, but regardless of the exit, it will be expensive and painful. He adds that America is divided the same way the UK is.
Dwane wrote “The American Dream is still alive, just not in America.” In the USA, economic mobility has fallen, and the goal of having your children earn more than you has ended. Even though standards of living has risen and there is more leisure time and discretionary spending, the sense of can-do optimism has become tattered and frayed. Instead, the American Dream is still alive and well, but living in Asia, and in particular, China. Companies are just getting started in Asia, and if you have a 30 year view, you will be rewarded.
His favorite books are here; a transcript of our conversation is posted here.
You can stream/download the full conversation, including the podcast extras on iTunes, Bloomberg, Overcast, and Stitcher. Our earlier podcasts can all be found at iTunes, Stitcher, Overcast, and Bloomberg.
Next week, in a special edition of Masters in Business Live, we speak with Howard Marks of Oaktree Capital, which manages over $120 billion in distressed debt assets.
Neil Dwane’s favorite books
The Hobbit and the Lord of the Rings by J.R.R. Tolkien
The Iliad: A New Translation by Caroline Alexander by Homer
Thinking in Bets: Making Smarter Decisions When You Don’t Have All the Facts by Annie Duke
Endurance: Shackleton’s Incredible Voyage by Alfred Lansing
The Singularity Is Near: When Humans Transcend Biology by Ray Kurzweil
