Alberto Gallo on China Risks, Corporate Inequality and Accelerated History

Macro Hive Conversations With Bilal Hafeez

Alberto is Head of Global Credit strategies and Portfolio Manager of the Algebris Global Credit Opportunities fund, a global strategy investing in bonds, credit and equities. Prior to Algebris, Alberto was Managing Director and Head of Global Macro Credit Research at RBS (2011-2016). His team was top ranked in Institutional Investor's All-Europe Fixed Income survey for Investment Grade, High Yield Research and Fixed Income Strategy, for four years running. Previously, Alberto was a macro strategist at Goldman Sachs in New York (2007-2011) and previously he was at Bear Stearns and Merrill Lynch in London (2004-2007), where he co-authored some of the early research on the credit derivatives market.In this podcast we discuss:

1. The challenge to neo-liberal capitalism
2. Biden's push for infrastructure and future trade policy
3. China's paradox markets vs centralisation
4. COVID accelerated history
5. Corporate inequality
6. The effects of QE infinity
7. The barbell approach to investing in a low yield world
8. Favoured sectors
9. Europe vs US equity allocations
10. Why EM risks are high
11. Inflation persistence
12. Lessons learned as an investor

Books that influenced Alberto: In Defence of Open Society (Soros), The Logic of Scientific Discovery (Popper), The Myth of Capitalism (Tepper), The Hidden Wealth of Nations (Zucman et al), Geopolitical Alpha (Papic), Homo Deus (Harari) and Brave New World (Huxley)