Europe and Japan’s earnings outlooks have improved, with double-digit growth expectations, though upgrades are concentrated in technology and energy, while inflation pressures could weigh on valuations. In this episode of Inside Active, host David Cohne, mutual fund and active management analyst at Bloomberg Intelligence, and co-host Laurent Douillet, senior equity strategist at BI, speak with Tom Coutts and Lawrence Burns, portfolio managers at Baillie Gifford, and subadvisers on the Vanguard International Growth Fund (VWIGX). They discuss why investors should still look beyond the US for long-term growth opportunities and how Baillie Gifford identifies durable growth companies. The conversation also explores international beneficiaries of the AI boom, why Japan is becoming more attractive, and how to balance valuation discipline with backing exceptional businesses over the long run. Recorded May 21.

 

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