Long-term investing is entering an era shaped by powerful secular shifts and bold innovation. Our latest annual forecasts expect economic nationalism to redraw the map for strategic industries, while artificial intelligence fuels a historic and transformative capex boom that over the long term we think lifts productivity across sectors. Global capital flows are also expected to be rewired, creating new opportunities and risks for portfolios as markets adapt to these forces. Inflation dynamics, asset class correlations and the role of real assets are all evolving, making diversification – including diversifying by theme – more essential than ever.
In this episode, join Gabriela Santos, Chief Market Strategist for the Americas; Stephanie Aliaga, Global Market Strategist and Tim Lintern, Portfolio Manager and Quantitative Researcher, as they share new perspectives from J.P. Morgan Asset Management’s Long-Term Capital Market Assumptions and explore what’s next for investors, and positioning for the structural changes with the greatest impact on relative asset returns.
<a href='https://www.youtube.com/watch?v=xoStMyFMkCY'>Watch on YouTube</a>
Subscribe to the Notes on the Week Ahead podcast for more insights from Dr. David Kelly: <a href='https://podcasts.apple.com/us/podcast/notes-on-the-week-ahead/id394242270'>Apple Podcasts</a> | <a href='https://open.spotify.com/show/3MYCUstxIHd5KSlETmzhyJ'>Spotify</a>

Long-term investing is entering an era shaped by powerful secular shifts and bold innovation. Our latest annual forecasts expect economic nationalism to redraw the map for strategic industries, while artificial intelligence fuels a historic and transformative capex boom that over the long term we think lifts productivity across sectors. Global capital flows are also expected to be rewired, creating new opportunities and risks for portfolios as markets adapt to these forces. Inflation dynamics, asset class correlations and the role of real assets are all evolving, making diversification – including diversifying by theme – more essential than ever. In this episode, join Gabriela Santos, Chief Market Strategist for the Americas; Stephanie Aliaga, Global Market Strategist and Tim Lintern, Portfolio Manager and Quantitative Researcher, as they share new perspectives from J.P. Morgan Asset Management’s Long-Term Capital Market Assumptions and explore what’s next for investors, and positioning for the structural changes with the greatest impact on relative asset returns. Watch on YouTube Subscribe to the Notes on the Week Ahead podcast for more insights from Dr. David Kelly: Apple Podcasts | Spotify

Long-term investing is entering an era shaped by powerful secular shifts and bold innovation. Our latest annual forecasts expect economic nationalism to redraw the map for strategic industries, while artificial intelligence fuels a historic and transformative capex boom that over the long term we think lifts productivity across sectors. Global capital flows are also expected to be rewired, creating new opportunities and risks for portfolios as markets adapt to these forces. Inflation dynamics, asset class correlations and the role of real assets are all evolving, making diversification – including diversifying by theme – more essential than ever.
In this episode, join Gabriela Santos, Chief Market Strategist for the Americas; Stephanie Aliaga, Global Market Strategist and Tim Lintern, Portfolio Manager and Quantitative Researcher, as they share new perspectives from J.P. Morgan Asset Management’s Long-Term Capital Market Assumptions and explore what’s next for investors, and positioning for the structural changes with the greatest impact on relative asset returns.
<a href="https://www.youtube.com/watch?v=xoStMyFMkCY" rel="noopener noreferrer">Watch on YouTube</a>
Subscribe to the Notes on the Week Ahead podcast for more insights from Dr. David Kelly: <a href="https://podcasts.apple.com/us/podcast/notes-on-the-week-ahead/id394242270" rel="noopener noreferrer">Apple Podcasts</a> | <a href="https://open.spotify.com/show/3MYCUstxIHd5KSlETmzhyJ" rel="noopener noreferrer">Spotify</a>

The 2027 Long-Term Capital Market Assumptions

Fundraising for closed-end private credit vehicles reached a record high in the second quarter of this year, highlighting the sustained strong interest from investors. This achievement comes during a year of heightened scrutiny for the asset class, with headlines focusing on underwriting concerns, the potential impact of artificial intelligence, disruptions in lending to software companies, and restrictions on withdrawals from certain semi-liquid funds. Against this backdrop, Aaron Mulvihill is joined in today’s episode by Jeff Bracchitta, Head of Private Credit at J.P. Morgan Asset Management. Together, they will discuss how different types of investors are viewing private credit, the possible effects of higher interest rates, and the evolving role of private credit in supporting AI-related capital expenditures.
 
Resources:
For more resources on Alternatives, visit our <a href='https://am.jpmorgan.com/us/en/asset-management/protected/adv/insights/market-insights/guide-to-alternatives/'>Guide to Alternatives</a> and <a href='https://am.jpmorgan.com/us/en/asset-management/protected/adv/insights/market-insights/guide-to-alternatives/principles-for-alternatives/'>Principles of Alternatives Investing</a> 
Listen to the audio version of the Alternative Realities podcast: <a href='https://podcasts.apple.com/us/podcast/insights-now/id394958297'>Apple Podcasts</a> | <a href='https://open.spotify.com/show/48EaweC3xjFdgfg2XAMMLX'>Spotify</a>

Fundraising for closed-end private credit vehicles reached a record high in the second quarter of this year, highlighting the sustained strong interest from investors. This achievement comes during a year of heightened scrutiny for the asset class, with headlines focusing on underwriting concerns, the potential impact of artificial intelligence, disruptions in lending to software companies, and restrictions on withdrawals from certain semi-liquid funds. Against this backdrop, Aaron Mulvihill is joined in today’s episode by Jeff Bracchitta, Head of Private Credit at J.P. Morgan Asset Management. Together, they will discuss how different types of investors are viewing private credit, the possible effects of higher interest rates, and the evolving role of private credit in supporting AI-related capital expenditures. Resources: For more resources on Alternatives, visit our Guide to Alternatives and Principles of Alternatives Investing Listen to the audio version of the Alternative Realities podcast: Apple Podcasts | Spotify

Fundraising for closed-end private credit vehicles reached a record high in the second quarter of this year, highlighting the sustained strong interest from investors. This achievement comes during a year of heightened scrutiny for the asset class, with headlines focusing on underwriting concerns, the potential impact of artificial intelligence, disruptions in lending to software companies, and restrictions on withdrawals from certain semi-liquid funds. Against this backdrop, Aaron Mulvihill is joined in today’s episode by Jeff Bracchitta, Head of Private Credit at J.P. Morgan Asset Management. Together, they will discuss how different types of investors are viewing private credit, the possible effects of higher interest rates, and the evolving role of private credit in supporting AI-related capital expenditures.
&nbsp;
Resources:
For more resources on Alternatives, visit our <a href="https://am.jpmorgan.com/us/en/asset-management/protected/adv/insights/market-insights/guide-to-alternatives/" rel="noopener noreferrer">Guide to Alternatives</a> and <a href="https://am.jpmorgan.com/us/en/asset-management/protected/adv/insights/market-insights/guide-to-alternatives/principles-for-alternatives/" rel="noopener noreferrer">Principles of Alternatives Investing</a> 
Listen to the audio version of the Alternative Realities podcast: <a href="https://podcasts.apple.com/us/podcast/insights-now/id394958297" rel="noopener noreferrer">Apple Podcasts</a> | <a href="https://open.spotify.com/show/48EaweC3xjFdgfg2XAMMLX" rel="noopener noreferrer">Spotify</a>

Alternative Realities: AI, redemptions and rate hikes in private credit

On today’s episode, we welcome Michael Cembalest, Chairman of Market and Investment Strategy at J.P. Morgan Asset Management. Michael will share his latest perspectives on emerging trends within the energy sector, offer his insights into the evolving landscape of artificial intelligence and data center development and highlight the most compelling opportunities in alternative investments today.
As Chairman of Market and Investment Strategy, Michael plays a pivotal role in shaping the firm’s strategic market and investment outlook across its institutional, funds and Private Banking businesses. He is also the author of the acclaimed Eye on the Market publication, renowned for its timely and incisive commentary on investments, markets, economics and more.
Resources:
For more resources on Alternatives, visit our <a href='https://am.jpmorgan.com/us/en/asset-management/protected/adv/insights/market-insights/guide-to-alternatives/'>Guide to Alternatives</a> and <a href='https://am.jpmorgan.com/us/en/asset-management/protected/adv/insights/market-insights/guide-to-alternatives/principles-for-alternatives/'>Principles of Alternatives Investing</a> 
Listen to the audio version of the Alternative Realities podcast: <a href='https://podcasts.apple.com/us/podcast/insights-now/id394958297'>Apple Podcasts</a> | <a href='https://open.spotify.com/show/48EaweC3xjFdgfg2XAMMLX'>Spotify</a>

On today’s episode, we welcome Michael Cembalest, Chairman of Market and Investment Strategy at J.P. Morgan Asset Management. Michael will share his latest perspectives on emerging trends within the energy sector, offer his insights into the evolving landscape of artificial intelligence and data center development and highlight the most compelling opportunities in alternative investments today. As Chairman of Market and Investment Strategy, Michael plays a pivotal role in shaping the firm’s strategic market and investment outlook across its institutional, funds and Private Banking businesses. He is also the author of the acclaimed Eye on the Market publication, renowned for its timely and incisive commentary on investments, markets, economics and more. Resources: For more resources on Alternatives, visit our Guide to Alternatives and Principles of Alternatives Investing Listen to the audio version of the Alternative Realities podcast: Apple Podcasts | Spotify

On today’s episode, we welcome Michael Cembalest, Chairman of Market and Investment Strategy at J.P. Morgan Asset Management. Michael will share his latest perspectives on emerging trends within the energy sector, offer his insights into the evolving landscape of artificial intelligence and data center development and highlight the most compelling opportunities in alternative investments today.
As Chairman of Market and Investment Strategy, Michael plays a pivotal role in shaping the firm’s strategic market and investment outlook across its institutional, funds and Private Banking businesses. He is also the author of the acclaimed Eye on the Market publication, renowned for its timely and incisive commentary on investments, markets, economics and more.
Resources:
For more resources on Alternatives, visit our <a href="https://am.jpmorgan.com/us/en/asset-management/protected/adv/insights/market-insights/guide-to-alternatives/" rel="noopener noreferrer">Guide to Alternatives</a> and <a href="https://am.jpmorgan.com/us/en/asset-management/protected/adv/insights/market-insights/guide-to-alternatives/principles-for-alternatives/" rel="noopener noreferrer">Principles of Alternatives Investing</a> 
Listen to the audio version of the Alternative Realities podcast: <a href="https://podcasts.apple.com/us/podcast/insights-now/id394958297" rel="noopener noreferrer">Apple Podcasts</a> | <a href="https://open.spotify.com/show/48EaweC3xjFdgfg2XAMMLX" rel="noopener noreferrer">Spotify</a>

Alternative Realities: Michael Cembalest on AI, energy and data centers

AI safety is no longer just a technology debate — it's moving markets. The AI build-out continues to drive demand across semiconductors and software, while cybersecurity risks, supply chain constraints and global competition from Chinese models add complexity to an already dynamic theme.
In this episode, join Gabriela Santos, Chief Market Strategist for the Americas, and Jason Yum, Research Analyst on the U.S. Equity Growth team, as they discuss how to think about AI as an investment theme and where opportunities are taking shape across the market.
Watch the video version on <a href='https://www.youtube.com/watch?v=QPbDyntNz2w'>YouTube</a>.
Subscribe to the Notes on the Week Ahead podcast for more insights from Dr. David Kelly: <a href='https://podcasts.apple.com/us/podcast/notes-on-the-week-ahead/id394242270'>Apple Podcasts</a> | <a href='https://open.spotify.com/show/3MYCUstxIHd5KSlETmzhyJ'>Spotify</a>

AI safety is no longer just a technology debate — it's moving markets. The AI build-out continues to drive demand across semiconductors and software, while cybersecurity risks, supply chain constraints and global competition from Chinese models add complexity to an already dynamic theme. In this episode, join Gabriela Santos, Chief Market Strategist for the Americas, and Jason Yum, Research Analyst on the U.S. Equity Growth team, as they discuss how to think about AI as an investment theme and where opportunities are taking shape across the market. Watch the video version on YouTube. Subscribe to the Notes on the Week Ahead podcast for more insights from Dr. David Kelly: Apple Podcasts | Spotify

AI safety is no longer just a technology debate — it's moving markets. The AI build-out continues to drive demand across semiconductors and software, while cybersecurity risks, supply chain constraints and global competition from Chinese models add complexity to an already dynamic theme.
In this episode, join Gabriela Santos, Chief Market Strategist for the Americas, and Jason Yum, Research Analyst on the U.S. Equity Growth team, as they discuss how to think about AI as an investment theme and where opportunities are taking shape across the market.
Watch the video version on <a href="https://www.youtube.com/watch?v=QPbDyntNz2w" rel="noopener noreferrer">YouTube</a>.
Subscribe to the Notes on the Week Ahead podcast for more insights from Dr. David Kelly: <a href="https://podcasts.apple.com/us/podcast/notes-on-the-week-ahead/id394242270" rel="noopener noreferrer">Apple Podcasts</a> | <a href="https://open.spotify.com/show/3MYCUstxIHd5KSlETmzhyJ" rel="noopener noreferrer">Spotify</a>

AI safety and the future of the buildout

In recent years, financial advisors have increasingly adopted model portfolios because they help deliver consistent and scalable portfolio management capabilities, while freeing up more time to spend with clients.
As more alternative products become available for private wealth clients, alternatives are starting to become an option that advisors can choose to incorporate into these model portfolios, raising the need for investor education across the board.
On today’s episode, Aaron Mulvihill is joined by John Speer, Portfolio Manager, to discuss how alternative assets are being used in model portfolios, how liquidity is managed when using alternatives in models, and what the future of alternatives in models might look like.
Resources:
For more resources on Alternatives, visit our <a href='https://am.jpmorgan.com/us/en/asset-management/protected/adv/insights/market-insights/guide-to-alternatives/'>Guide to Alternatives</a> and <a href='https://am.jpmorgan.com/us/en/asset-management/protected/adv/insights/market-insights/guide-to-alternatives/principles-for-alternatives/'>Principles of Alternatives Investing</a> 
Listen to the audio version of the Alternative Realities podcast: <a href='https://podcasts.apple.com/us/podcast/insights-now/id394958297'>Apple Podcasts</a> | <a href='https://open.spotify.com/show/48EaweC3xjFdgfg2XAMMLX'>Spotify</a>

In recent years, financial advisors have increasingly adopted model portfolios because they help deliver consistent and scalable portfolio management capabilities, while freeing up more time to spend with clients. As more alternative products become available for private wealth clients, alternatives are starting to become an option that advisors can choose to incorporate into these model portfolios, raising the need for investor education across the board. On today’s episode, Aaron Mulvihill is joined by John Speer, Portfolio Manager, to discuss how alternative assets are being used in model portfolios, how liquidity is managed when using alternatives in models, and what the future of alternatives in models might look like. Resources: For more resources on Alternatives, visit our Guide to Alternatives and Principles of Alternatives Investing Listen to the audio version of the Alternative Realities podcast: Apple Podcasts | Spotify

In recent years, financial advisors have increasingly adopted model portfolios because they help deliver consistent and scalable portfolio management capabilities, while freeing up more time to spend with clients.
As more alternative products become available for private wealth clients, alternatives are starting to become an option that advisors can choose to incorporate into these model portfolios, raising the need for investor education across the board.
On today’s episode, Aaron Mulvihill is joined by John Speer, Portfolio Manager, to discuss how alternative assets are being used in model portfolios, how liquidity is managed when using alternatives in models, and what the future of alternatives in models might look like.
Resources:
For more resources on Alternatives, visit our <a href="https://am.jpmorgan.com/us/en/asset-management/protected/adv/insights/market-insights/guide-to-alternatives/" rel="noopener noreferrer">Guide to Alternatives</a> and <a href="https://am.jpmorgan.com/us/en/asset-management/protected/adv/insights/market-insights/guide-to-alternatives/principles-for-alternatives/" rel="noopener noreferrer">Principles of Alternatives Investing</a> 
Listen to the audio version of the Alternative Realities podcast: <a href="https://podcasts.apple.com/us/podcast/insights-now/id394958297" rel="noopener noreferrer">Apple Podcasts</a> | <a href="https://open.spotify.com/show/48EaweC3xjFdgfg2XAMMLX" rel="noopener noreferrer">Spotify</a>

Alternative Realities: Modeling better portfolios

John Bilton, Head of Global Multi-Asset Strategy discusses the themes of our 2017 Long-term Capital Market Assumptions.

Recalibrating risk and returns

The benefits of Strategic Beta, an intersection between active and passive investment strategies.

Strategic Beta simplified

J.P. Morgan Funds Insights is an audio podcast that provides perspective on the uncertainties and opportunities facing investors today. Let's help clients build stronger portfolios. Let's solve it. www.jpmorgan.com/usam Insight + Process = Results

Welcome to Insights Now, the podcast channel from JPMorgan Asset Management, hosted by Gabriela Santos, Chief Global Strategist for the Americas, where experts share timely perspectives on asset classes, markets and investment opportunities. The Alternative Realities series, hosted by Aaron Mulvihill, Global Alternatives Strategist, explores the people, stories and strategies shaping the world of alternative investments.

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Welcome to Insights Now, the podcast channel from JPMorgan Asset Management, hosted by Gabriela Santos, Chief Global Strategist for the Americas, where experts share timely perspectives on asset classes, markets and investment opportunities. The Alternative Realities series, hosted by Aaron Mulvihill, Global Alternatives Strategist, explores the people, stories and strategies shaping the world of alternative investments.

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