Where you could be investing in global markets.
Transcript:
Caroline Woods: I have to say it kind of surprises me how bullish you are, because I was taking a look at your notes and a lot of them were around opportunities outside of the US.
Brian Levitt: Yeah, well, the opportunities outside of the US, if you think about all that’s been going on, you’ve not seen a rally in the dollar. And so the dollar, what you’ve needed for years for non-U.S.. markets to do well is to finally break this dollar cycle. So the point being valuations are more attractive. The dollar finally doesn’t rally with every bit of news, and central banks around the world are easing.
Caroline Woods: So talk to me about where you’re seeing some of those opportunities abroad.
Brian Levitt: I mean, if we start the year, remember a lot of what happened in the beginning of the year. The focus was on DeepSeek. People forget that now because of trade conflict and because of geopolitical conflict. But you have a lot of Chinese tech companies trading at quite reasonable valuations, and Chinese policymakers working to attract capital and working to reinvigorate economic activity. I think Europe in its own right is a good story. Europe might not have the hyperscalers with regards to the AI trade that the US has, but Europe has a lot of the businesses that make AI happen. And so valuations are reasonably attractive. European Central Bank has been aggressive. And again, we’re not in an environment where the dollar rallies good or bad. We’re in an environment where even in some bad news globally the dollar has remained. Relatively stable or slightly weaker.
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