Louis Gave on Why There are Not Enough EM Assets to go Around!
Benny & The Squirrel: Ep. 25 with Louis Gave
The 🐿️ and I sat down with Gavekal Founder and CEO, Louis Vincent Gave on Thursday 12th February. Louis never disappoints - one of the best and most entertaining market strategists out there. Warning from the 🐿️ : this session was not good for the 🐿️’s confirmation bias as these two share alot of the same views and are basking in the glory of their thesis working lately.
It was a fun conversation so I hope you enjoy it over the long weekend!
Key Themes Discussed:
The US dollar bear case
AI disruption of knowledge economy and US equity valuations
Asian capital repatriation dynamics
China’s competitive advantages (energy, labor, capital costs) plus policy pivot
India-Russia-China triangle as a new geopolitical-economic axis
‘US Treasury = commodity’ breakdown to drive physical commodity hoarding
Latin America as his highest-conviction trade for 2026
Frankly there are not enough EM financial assets to go around!