Maggie Lake Talking Markets Episode 86: Boom or Bubble? With Vincent Deluard.
9 snips
Sep 22, 2025 
In this lively discussion, Vincent Deluard, the Director of Global Macro Strategy at StoneX, shares his insights on global markets. He highlights promising opportunities in China and Brazil while expressing caution about India and Poland. With gold hitting record highs, Vincent delves into the implications of a weaker dollar and the impact of upcoming PCE data. He also addresses the effects of Western society's stimulus addiction on long-term market stability, making for a thought-provoking conversation on the future of global finance.
AI Snips
Chapters
Transcript
Episode notes
Hold Some Cash Into Seasonal Risks
- Consider holding cash or trimming positions before expected seasonal liquidity drains.
- Vincent suggests waiting until mid-October to see tax flows, buyback expiries, and earnings clarity.
Manage Gains After A Massive Rally
- Trim exposure after big year-to-date gains and favor risk management.
- Vincent admits many names in his portfolio doubled and suggests caution despite bullish views.
Positioning, Not Macro, Breeds Corrections
- Market cracks are more about liquidity and positioning than macro fundamentals.
- Overheated positioning can cause 10–15% air-pocket corrections even amid sound growth.