Introduces guest Gargi Chaudhuri, BlackRock strategist, noting her 2026 outlook and her view on opportunities outside AI, including gold miners and financials.
Morgan
Gargi Chaudhuri
Outlines three key focuses for 2026: 1) Pro-risk stance, 2) AI as a major market driver but with opportunities beyond AI, 3) Growth above trend, Fed signaling willingness to cut rates significantly, and potential for strong U.S. productivity gains.
Asks if geopolitical risks (Venezuela, Greenland) could become a bigger market focus given investors are currently shrugging them off.
Morgan
Gargi Chaudhuri
States geopolitical news doesn't sustainably impact markets unless it affects growth or inflation transmission. Emphasizes building resilient portfolios through income-seeking (public/private fixed income, dividend equities) and diversifiers like gold.
Asks about diversification into EM or other major countries given strong global equity performance and a strong start to 2026 in Asian markets.
Morgan
Gargi Chaudhuri
Affirms international diversification, especially Asia, as a way to diversify the AI theme. Points to Asian semiconductor names as a good source of diversification from the U.S. cloud platform story.