The Geopolitical Shock Playbook (Mike Wilson, Morgan Stanley) | #623
Watch on YouTube. My guest today is Mike Wilson, Morgan Stanley’s Chief U.S. Equity Strategist and Chief Investment Officer.
In today’s episode, Mike Wilson explains how a rolling recession has given way to a staggered recovery, and why he expects leadership to broaden beyond mega-cap stocks into small caps, cyclicals, and international markets. He highlights growing risks from AI disruption, private credit weakness, and the Iran conflict.
To close, Mike discusses a shift beyond the traditional 60/40 portfolio toward a more flexible 60/20/20 approach that includes assets like gold.
(0:00) Starts
(1:31) Mike Wilson on rolling recessions and rolling recoveries
(5:28) Market implications of Iran conflict
(9:52) Market cap weight vs. equal weight indices
(15:41) Thoughts on the Fed
(20:01) Is 60/20/20 the new 60/40?
(23:23) Geopolitical shocks
(35:48) AI's impact and bullish on healthcare
(42:03) Outlook for global economic recovery
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Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.
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Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).
