This podcast episode discusses the challenges of estimating long-run expected returns across markets and the importance of historical understanding. It explores the changes in capital market assumptions, particularly the acceptance of a higher inflation regime and the shift in correlations between stocks and bonds. The podcast also covers strategic and tactical asset allocation recommendations and the considerations involved in making investment decisions. Additionally, it examines the relevance of historical metrics and the impact of monetary policy and market structure on market liquidity and price efficiency.
