Episode 86, Joe Davis, Vanguard Global Chief Economist and author of "Coming Into View", host Rick Ferri

The podcast explores how AI and other megatrends will shape investments, drawing from Joe Davis's book, "Coming Into View." Davis explains the book's framework, which assesses the impact of technology, globalization, demographics, and government debt on GDP, stock market performance, inflation, and interest rates across multiple countries. A key theme is the tug-of-war between AI's potential to transform economic growth and the risks of deficits dominating if AI disappoints. Davis highlights that while globalization is not in retreat, demographics are less deterministic than often assumed, with technology playing a more significant role. The discussion also covers active versus passive investment strategies, emphasizing Vanguard's core belief in low-cost indexing while acknowledging the potential role of skilled active managers.