The Monaco Economic Board invited finance world heavyweight Edmund Shing to speak at their latest event, the first in a new series of talks that will be led by English speakers.
The Monaco Economic Board (MEB) is known for being open to new horizons. In their latest event, held on 7th June, they expanded their reach by inviting an English-speaking business leader to take centre stage, the first in what will be a series of events in English.
“This new series of conferences by guest experts takes account of a reality: Monaco is an international hub where 140 nationalities, residents and employees live together”, says Guillaume Rose, Executive Director General of the MEB. “By organising events in English, the MEB aims to be more representative than ever of the business world of the Principality.”
Edmund Shing, Chief Investment Officer responsible for investment strategy at BNP Paribas Wealth Management, kicked off the new format with a two-part talk on two very different topics.
ABNORMAL FINANCIAL TIMES
The first half of the evening focused on the world’s current “abnormal” economic state and how it has been affected by recent events such as the pandemic and the war in the Ukraine. Shing spoke on the sudden sharp rise in interest rates, central banks reactions to inflation and the resulting drop in the number of loans available as well as the tensions in labour markets, with never-before-seen employment rates in many countries.
Against this backdrop, the stock markets continue to perform well, allowing many companies to continue issuing dividends and keep the wheels of commerce rolling, according to Shing.
CHALLENGES AND AI
The second part of the presentation looked at investment trends, starting with artificial intelligence (AI). Shing recommended prudence when investing in this hot new technology, citing past bubbles that ultimately burst, leaving some investors to crash and burn.
Whilst arguing that AI could be a risk if not carefully followed, Shing did note some safer bets, such as gold and rare metals, especially those used in the making of semi-conductors and batteries. He also recommended that the finance, energy and health sectors be considered when looking for a place to invest.
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Photo credit: MEB/Carte Blanche