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99: Global Equities with Janus Henderson

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Manage episode 415566646 series 1770598
Content provided by Teik Tan and Investment Innovation Institute [i3]. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Teik Tan and Investment Innovation Institute [i3] or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

In episode 99 of the [i3] Podcast, we speak with Julian McManus, who is a Portfolio Manager on the Global Alpha Equity Team at Janus Henderson Investors. We spoke about global equities, the role of the Magnificent 7, Japanese equities and hybrid cars. Enjoy the show!

Overview of Podcast with Julian McManus, Janus Henderson Investors

02:00 Getting into Japanese equities fresh out of law school

04:00 We still invest in Japan

07:00 Abe’s reforms and book value quant trades

08:00 The Japanese government has woken up to the urgence to create national champions in strategically important industries

09:50 Japan is going to be one of the most important semiconductor manufacturing hubs globally outside of Taiwan

11:00 Toyota and the demand for hybrids

14:00 There is still a notion among some investors that you invest in US stocks and international is where you go on vacation

15:30 Tech companies outside of Magnificent 7, why haven’t they increased alongside?

16:30 Many investors have trouble paying more than 25 times, one year forward earnings for any European stock

19:00 Yes, there is geopolitical risk in TSMC, but TSMC is not living in a vacuum

20:00 We are of the position that China will never be able to invade Taiwan

22:00 Because we have a large position in (defence company) BAE Systems, that allows us to have a large position in TSMC as well.

23:00 We own three of the Magnificent 7

25:00 We believed for a very long time that Apple and Tesla were overvalued and avoided those

28:30 The uncomfortable question about AI is: Are you going to reinvest the productivity gains or let them flow down to the bottom line?

30:00 On the dangers of overdiversification

36:00 Rates are typically something we don’t want to take a bet on

37:00 Defence spending will need to catch up in Europe

Follow the Investment Innovation Institute [i3] on Linkedin Subscribe to our Newsletter Explore our library of insights from leading institutional investors at [i3] Insights

  continue reading

117 episodes

Artwork
iconShare
 
Manage episode 415566646 series 1770598
Content provided by Teik Tan and Investment Innovation Institute [i3]. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Teik Tan and Investment Innovation Institute [i3] or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

In episode 99 of the [i3] Podcast, we speak with Julian McManus, who is a Portfolio Manager on the Global Alpha Equity Team at Janus Henderson Investors. We spoke about global equities, the role of the Magnificent 7, Japanese equities and hybrid cars. Enjoy the show!

Overview of Podcast with Julian McManus, Janus Henderson Investors

02:00 Getting into Japanese equities fresh out of law school

04:00 We still invest in Japan

07:00 Abe’s reforms and book value quant trades

08:00 The Japanese government has woken up to the urgence to create national champions in strategically important industries

09:50 Japan is going to be one of the most important semiconductor manufacturing hubs globally outside of Taiwan

11:00 Toyota and the demand for hybrids

14:00 There is still a notion among some investors that you invest in US stocks and international is where you go on vacation

15:30 Tech companies outside of Magnificent 7, why haven’t they increased alongside?

16:30 Many investors have trouble paying more than 25 times, one year forward earnings for any European stock

19:00 Yes, there is geopolitical risk in TSMC, but TSMC is not living in a vacuum

20:00 We are of the position that China will never be able to invade Taiwan

22:00 Because we have a large position in (defence company) BAE Systems, that allows us to have a large position in TSMC as well.

23:00 We own three of the Magnificent 7

25:00 We believed for a very long time that Apple and Tesla were overvalued and avoided those

28:30 The uncomfortable question about AI is: Are you going to reinvest the productivity gains or let them flow down to the bottom line?

30:00 On the dangers of overdiversification

36:00 Rates are typically something we don’t want to take a bet on

37:00 Defence spending will need to catch up in Europe

Follow the Investment Innovation Institute [i3] on Linkedin Subscribe to our Newsletter Explore our library of insights from leading institutional investors at [i3] Insights

  continue reading

117 episodes

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