What you’re used to might not prevail: Neo-nationalism Era


Political developments have dominated market commentary for much of the last two years. However, such commentary is often overly focused on short term considerations: trying to forecast short term price moves around elections, or considering which areas of the market will be the winners and losers from particular polices. In many ways events such as Brexit and Trump’s US victory have shown how misguided this approach can be.

As we have discussed in the past on this blog, we believe that the true importance of political developments lie in their longer term impact. In this video, Eric discusses the role of politics in influencing the investment regime and importantly how political change can tear up our conventional views on risk, correlations, and long term return properties of assets. A longer discussion of this topic can be found here.

About The Author

Eric Lonergan is a macro hedge fund manager, economist, and writer. His most recent book is Supercharge Me, co-authored with Corinne Sawers. He is also author of the international bestseller, Angrynomics, co-written with Mark Blyth, and published by Agenda. It was listed on the Financial Times must reads for Summer 2020. Prior to Angrynomics, he has written Money (2nd ed) published by Routledge. He has written for Foreign AffairsThe Financial Times, and The Economist. He also advises governments and policymakers. He first advocated expanding the tools of central banks to including cash transfers to households in the Financial Times in 2002. In December 2008, he advocated the policy as the most efficient way out of recession post-financial crisis, contributing to a growing debate over the need for ‘helicopter money’.