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As the prospect of economic recession looms on the horizon, Guy Wagner, Managing Director of BLI - Banque de Luxembourg Investments welcomes us into his home and answers the main questions on investors’ minds in a 9-minute podcast.
5 questions for Guy Wagner:
Who are the 'winners and losers' in this crisis?
High-quality defensive stocks have held up relatively well in the current environment. Economically, the most cyclical companies such as tourism and airlines have suffered more in this crisis, while other sectors such as healthcare and technology have proven more resilient.
Is it still correct to talk about 'safe-haven assets'?
It is clear that it is increasingly problematic to talk about 'safe-haven assets' in the current climate. Government bonds have not fulfilled this safe-haven role in recent weeks, and gold prices have been fairly volatile during this period.
How should we interpret the measures taken by governments and international institutions?
Despite the wide-ranging fiscal and monetary measures announced, they will not be enough to prevent a recession. Their purpose is to kick-start the economy moving forward once the public health crisis has been brought under control. Does it make sense to invest based on short-term expectations? We also know from experience that there is no way to predict short-term market fluctuations. Such an approach would be counter-productive.
What are the advantages of BLI - Banque de Luxembourg Investments’ management approach in the current circumstances?
Our investment methodology is based on strict principles, applied rigorously. Our principles clearly lead us to favour high-quality companies that carry very little debt and have a competitive edge. Moreover, the current context shows that this approach is more relevant than ever.
Our experts will keep you informed of the public health crisis and the impact on the economy and your investments.