Mike Green's 2021 Big Picture Outlook
Mike Green of Logica Capital kicks off 2021 for Real Vision viewers with this big picture interview taking stock of an eventful 2020 and looking forward to 2021. Narratives abound and seem to be more important than ever, and although Green does not downplay the significance of narrative, he helps viewers separate the signal from the noise. He deemphasizes both the inflation and rotation trade narratives that have taken hold as of late and argues that their proponents are confusing short-term disruptions with longer-term structural changes. In terms of lasting changes from 2020 continuing in 2021, Mike believes that the current state of relations with US and China and the use of fear by governments to push forward previously unthinkable policies is here to stay. In addition, he gives a sneak peek at what viewers can expect from the “Mike Green in Conversation” series in 2021. Filmed on December 17, 2020. Key Learnings: Mike does not buy popular inflation narratives and believes that the rotation trade is played out at this point. He argues that the structural forces of passive indexation, which have resulted in US large cap and momentum outperformance, have only strengthened and will again be on display in 2021.