In the first episode of WellSaid Season 2, Co-Head of Private Investing Michael Carmen joins host Thomas Mucha to share his constructive outlook for today's rapidly evolving private market landscape. In addition, they discuss the role of ESG in privates, how Wellington collaborates with entrepreneurs, and much more.

2:00 - Private equity outlook for 2023

4:30 - Potential recession 

5:40 - A new deal and valuation regime

8:10 - How the macro environment impacts privates

9:50 - ESG in private markets

10:55 - Working with VC founders

14:25 - Personal observations

Geopolitical Strategist Thomas Mucha looks back on highlights from WellSaid Season 1 and previews episodes to come in Season 2 in 2023.

India is balancing immense growth opportunities — like digital transformation, domestic manufacturing, and industry consolidation — with complicated geopolitical, climate, and other risks. Macro Strategist Tushar Poddar joins host Thomas Mucha to explore the key macro and economic factors driving one of the world's most compelling investment markets.

1:55 - India’s economic growth drivers

5:30 - India’s political stability 

9:15  -Market outlook and industry consolidation 

13:05 - Rise of India’s manufacturing 

16:18 - Critical geopolitical player 

22:30 - Climate change in India 

25:35 - Tushar’s career path and research process

28:20 - Book recommendations and personal observations

US midterm elections can be pivotal for financial markets, especially when they result in divided government. Macro Strategist Mike Medeiros joins host Thomas Mucha to discuss what 2022’s surprise midterm results may mean for equity and bond markets, US foreign and domestic policy, and the 2024 US presidential election.

Key topics:

1:35 - Midterm results

2:45 - Surprise election outcomes

4:10 - US domestic policy implications

6:50 - US foreign policy impacts

10:30 - Divided government's effect on equity and bond markets

13:15 - Republicans' lessons from midterm results

15:00 - Democrats' lessons from midterm results

16:15 - 2024 US Presidential Election outlook

Portfolio Manager Matt Lipton and Global Industry Analyst Matt Ross join host Thomas Mucha to discuss their outlook for fintech in today's environment, exploring the recent pullback in the sector, disruptive fintech innovations, potential regulation, and much more.

2:10 – Fintech market overview

4:20 – Fintech opportunities and risks for 2023

6:45 – Buy now, pay later

9:30 – Cryptocurrencies and digital assets

11:30 – Regulation and geopolitics

17:50 – Fintech in a recession

22:20 – Long-term COVID impacts

25:00 – ESG in fintech

28:00 – Collaboration and research process

The market for sustainable credit in emerging markets is exploding. What's driving that growth? What are the challenges and opportunities? Veteran fixed income credit analyst Sam Epee-Bounya joins host Thomas Mucha to explore the rapidly changing environment for ESG and sustainable finance in Latin America and Africa. 
1:45 – Sustainable finance growth drivers

4:20 – ESG differences with EM investing

6:55 – Examples of real-world improvements

9:50 – How Sam’s African background influences his research

11:50  – Sam’s collaborative approach to engagement  

14:35 – EM challenges and opportunities ahead

18:20 – Why changes will be incremental    

21:10 – Navigating geopolitical and macro risks

29:20 – Reading recommendations and personal observations

Macro strategist Gillian Edgeworth joins host Thomas Mucha to continue our discussion on the macro and market implications of the war in Ukraine, including the conflict's impacts on energy, food, and geopolitics. 

2:10 - Update on the war in Ukraine

5:20 - Oil price cap and the future of the Russian economy

8:30 - Russia's economic relationship with China

12:00 - India's and Turkey's relationship with Russia and the West

16:20 - Positive developments in Ukrainian food exports

18:10 - Investment implications of the war in Ukraine

23:20 - Insights from 14 years analyzing the Russian market

25:30 - Collaborative research approach

The war continues to exacerbate the twin crises of energy availability and affordability. We explore how the situation may take shape from here. 

2:00 Availability crisis

7:30 Demand-reduction measures

9:25 Affordability crisis

11:10 Effects on domestic politics and policy 

17:30 Effects on geopolitical friction

20:00 Effects on research and collaboration process 

Macro strategist Juhi Dhawan joins host Thomas Mucha to discuss her latest research on the Fed, inflation, and the key macro themes shaping today's markets.

1:50 – Today’s inflation drivers

3:00 – The Fed’s response

5:10 – Inflation in Europe

7:20 – Political implications

9:55 – Recession risk

12:00 – Key data to watch

13:15 – China’s economy

15:20 – The Inflation Reduction Act

19:45 – Juhi's research process

22:40 – Investment impacts of structural shifts

26:20 – Defense and national security

28:10 – Personal insights

Contrarians are a breed apart. Bucking conventional market wisdom, they seek opportunities to invest in companies where fundamentals are solid but valuations are so dislocated that other investors may not want to touch them -- at least not yet. Equity Research Analyst Tarit Rao-Chakravorti joins host Thomas Mucha to explain his process and how he looks to the macro environment, history, news headlines, and even works of fiction to source contrarian ideas.

Episode highlights:

1:10 What is contrarian investing?

3:40 Considering the macro environment

6:00 Contrarian opportunities today

8:15 Avoiding value traps

10:15 Importance of behavioral finance

12:40 Researching extremes

14:40 Engaging with struggling companies

16:30 Importance of communication

19:10 Tarit’s career path

21:40 Tarit’s book recommendations

24:00 If you weren’t an analyst at Wellington…?