Today on the show we welcome institutional portfolio manager Mike Hickey. Mike and host Pamela Ritchie discuss a range of topics including investing in Japan, the demand for AI and the state of the consumer. Mike says inflation is coming down and notes that the sweet spot for equities is around 3% inflation. Revenues are nominal and he says a little bit of inflation is good for corporate America. He adds that they are focused on growth, and tend to be biased to sectors in tech, consumer space , and healthcare. These areas, he says, have characteristics of high growth and are global businesses. They are very scalable and are capital light and not so affected by interest rates because of a massive balance sheet. Mike who has worked alongside long-time investor Will Danoff for many years says in terms of value versus growth, they are always biased to growth. They are willing to pay for good names that might look expensive. He adds we are still in the early days of corporate America embracing AI, but if you’re worried about a company being too expensive to invest in, you may miss out on some big moves.

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