There’s a lot of capital swirling around in the world. Where’s it going? In the podcast below, David Darst, chief investment strategist for Morgan Stanley, provides the current picture of global capital flows, but this is no run-of-the-mill lecture.
Darst, chief investment strategist for Morgan Stanley, was most definitely the highlight of the firm’s annual outlook event held this week in New York. A polymath in his own right, Darst went on in his entertaining rant, zigzagging from China reforms to Israeli privatization schemes to current tax policy.
When listening to him speak, you can’t help but get a slight headache from how loud he is, but you’re also on the edge of your seat. And his personality was something I couldn’t quite capture in print. In fact, by the end of his 30-minute speech, Darst said: “Now I’m going to go upstairs and take some medication.” You’ll see why.
In this segment, Darst talks, loudly, about what is asset allocation, as well as his amazement at where people are putting their money. Where? Trophy real estate, diamonds, expensive art, for starters.
Click here to listen to the podcast.