Jay Pelosky is the founder of TPW Advisory. He has over 35 years of buy-side and sell-side financial market experience. Before going independent, Jay was at Morgan Stanley, where he was ranked #1 by Institutional Investor in Global Equity Strategy and Global Asset Allocation Strategy. In this podcast, we discuss: The Tripolar World &amp; Spending Super Cycle US Valuation &quot;Haircut&quot; vs. Non-US Bargains Reframing Bearish Narratives &amp; High Nominal Growth European Plays: Financial Consolidation, Spain, and Poland Emerging Markets, China&#x27;s Tech/Biotech, and Brazil Rate Cuts Energy Security, Clean Energy Adoption, and Battery Plays US Midterm Outlook &amp; Policy Incoherence Year-End &quot;Face Ripper&quot; Rally &amp; Answering AI ROI

Ep. 377: Jay Pelosky on the Tripolar World, the Spending Super Cycle, and the Global Earnings Boom

Macro Hive Conversations With Bilal Hafeez

Welcome to the Macro Hive Conversations podcast. I'm Bilal Hafeez, Head of Strategy at Macro Hive. Before we dive in, a quick update. Following Macro Hive's acquisition by the BGC Group, BGC has launched a new regulated business called Macro Hive Markets. For the first time, onboarded clients can also access execution services via Macro Hive Markets. This new workflow will allow macro institutional investors to benefit from strategy and quant insights, alongside access to

global liquidity. Please contact Andrew Simon or Guillermo Cibrián on Bloomberg or click the link in the description below for more details on Macro Hive Markets and its service offering. Onto my guest for this episode, we have Jay Pelosky. He's the founder of TPW Advisory and he's formerly the top-ranked Head of Asset Allocation at Morgan Stanley. We have a wide-ranging discussion, so I'm sure you'll enjoy it. So onto our conversation. Greetings and welcome Jay. It's always great to have you on the

podcast show. Thanks, Bilal. Nice to be back. I have to say, I love reading your weekly pieces because I'm in the macro world and so many macro people tend to be in the doom and gloom camp when it comes to equity markets. And, you know, perhaps it's useful just to remind our audience, you know, your bigger picture structural view first, you know, what's kind of underpinning your view on equities. You talk about the tripolar world. So if you just remind us what you mean by that,

and then also the spending super cycle that has been driving things. Yeah, you know, I've been doing global macro since the mid-90s, I would say, when I launched Morgan Stanley's Global Emerging Market Strategy product. So my experience space is pretty long.

Ep. 377: Jay Pelosky on the Tripolar World, the Spending Super Cycle, and the Global Earnings Boom

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Ep. 377: Jay Pelosky on the Tripolar World, the Spending Super Cycle, and the Global Earnings Boom

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.