Our conversation with Hubert Marleau, Market Economist, Palos Management, about macro, micro, and mini-micro market and economic considerations in the present and his clear-eyed expectations of what the future holds, post-COVID-19.
ClearBridge Investments: Despite recent strong performance for listed infrastructure versus equities, infrastructure valuations are still attractive on a risk adjusted basis, and could have room to run.
Brandywine Global: The interplay between policy-driven trade realignments, cyclical relative growth shifts, structural capital flow adjustments, and relative currency valuations could open new avenues for alpha generation in emerging markets.