In this week's podcast, Nucleus Wealth’s Chief Investment Officer, Damien Klassen looked at the difference between GDP and company profits, discussing when you can get divergences and how investors should think about returns.
Agenda:
GDP growth vs equity returns — the disconnect
EM case study: fast GDP, slow markets
US lens: foreign revenues, the USD, and currency translation
Who’s spending? Govt vs households vs profits (Kalecki/Levy)
Listed mega-caps vs the SME economy
Today’s US forces: USD, tariffs, deficits, AI capex