Beyond market consensus: Five structural changes investors need to pay attention to

Moving on from the troubles of 2020

We are likely as equally excited about what 2021 will bring us as we are about seeing the back of 2020.

Of the two dozen or so forecast calls and year-end pieces I have read, I have not come across one analyst deviating from the popular view: higher equities, a steeper US yield curve, a weaker dollar, stronger EM currencies, equities, and bonds, and higher commodity prices. With the exception of the dollar, I have had this outlook since the middle of 2020 for most assets and have been positive on equities since late March last year. Here, I will try to focus on what might be better value-add insights. Thematic, systematic, pragmatic: Why multi-strategy investing still has a place in 202...