Algy's Investment Podcast Pete Davies: Where are the Risks and Rewards Over the Next Decade? | #24
21 snips
Feb 12, 2026 AI Snips
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Episode notes
A Different Decade: Capex, Public Risk, Deglobalisation
- This decade will differ from the last: Western capex, public-sector risk, and deglobalisation dominate the macro picture.
- Investors should expect rewarded returns for deviating from index-centric, style-boxed portfolios.
Public Sector Is The Main Macro Risk
- The largest macro risk this decade is concentrated in the public sector, not private corporates.
- That flips the normal paradigm where bonds are risk-free and equities carry most risk.
Change Portfolios When Decades Change
- Avoid rigid style boxes; update portfolios for multi‑year structural shifts.
- Build conviction from fresh, multi‑year analysis rather than clinging to a single investment style.