You can listen to our podcasts online via the player below or search for 'Investment Uncut' and review, rate and subscribe on Apple Podcasts, Spotify, Pocket Casts or SoundCloud.

This week on the podcast hosts Dan Mikulskis and Mary Spencer speak to Natalie Brain, a member of LCP’s macro committee. They discuss -

• What’s the point of a forecast anyway? And did we get things right last year?
• How the recent news and market events with covid-19 have blown away many market forecasts for the year and what this means for investors here, how investors can keep on track in a world of event risk and putting the market volatility into context.
• Natalie defends the role of a forecast in setting views, but emphasises the need to regularly update it for new information (backed up by recent events). The next updates to our forecast and asset class views will be due in April.
• LCP’s base central economic scenarios and the risks that were on the horizon at the start of the year and what drives markets – things like trade deals, politics, central bank easing and more.
• How economic scenarios inform our asset class views – broadly a more supportive economic and monetary environment is seen as positive for growth assets such as equities.
• The framework that we use at LCP for assessing different asset classes: the four segments being equity, credit, real assets and absolute return.
• Our views on equity asset classes (global, emerging and UK) all of which are positive, with a recent upgrade to the UK
• Views on credit asset classes which are overall negative, with the exception of real-asset backed private lending and asset backed securities
• Real assets including property – where the view is positive on long lease properties in the UK and global property, but more negative on conventional UK property. Infrastructure encompasses a range of assets from solar panels to ports to pipelines around the world, so hard to take a single view, but overall we are positive.
• We look forward to welcoming Natalie back onto the show a little later in the year to hear how LCP’s economic view is evolving with the global situation and what this means for asset classes.
• As usual we end with the speed round and what Natalie thinks is the most under-appreciated thing about investing.

Useful links referred to in our podcast this week

• Long-term investing in an era of event risk (LCP Vista, Feb 2020)
• Live covid19 data
• Live Covid19 data - Worldometers
• Markets during Spanish flu - Fortune article
• Markets during Spanish flu - Investor Amnesia 
• Markets during Spanish flu - Harvard
• Markets during other outbreaks - FT
• Markets during other outbreaks - Bloomberg
• Regular intra – year drawdowns in the stock market
• Deutsche bank podcast (referred to by Dan)
• The economist podcast (referred to by Natalie)

How to access our podcasts

You can access all our podcasts across all major audio platforms via computer or devices.

	Spotify
	Apple Podcasts
	Pocket Casts
	SoundCloud

Each LCP investment uncut podcast is for information and marketing purposes only and does not constitute any form of investment or financial advice or a financial promotion (under the Financial Services and Markets Act 2000). All views expressed by the podcast hosts and guests are purely their own opinions and do not represent those of LCP, its clients or affiliates. Our podcast listeners should always seek independent financial or legal advice before making any financial or investment decisions. Please refer to the Legal Notices section on the LCP website for further information.​