Gavyn Davies has more on his CV than most can imagine. In his varied career, he’s been advisor to the Labour government of Jim Callaghan, the Chief Economist at Goldman Sachs, Chair of the BBC, founder of Active Private Equity, and now Chairman of Fulcrum Asset Management. He’s also an active writer for the FT and Guardian.
Gavyn Davies has more on his CV than most can imagine. In his varied career, he’s been advisor to the Labour government of Jim Callaghan, the Chief Economist at Goldman Sachs, Chair of the BBC, founder of Active Private Equity, and now Chairman of Fulcrum Asset Management. He’s also an active writer for the FT and Guardian.
Gavyn starts by describing his early work as an economic advisor to the Labour governments of 1974-79, the inflation challenges they faced, and remedies implemented. He describes the emergence of Goldman Sachs on the international stage, the evolution of macro thinking, and serving as one of the “wise men” for two UK Chancellors.He then describes the challenge and opportunity for the BBC, the subsequent decision to launch Fulcrum Asset Management and their more defensive approach to managing capital. In particular, he discusses the rationale for allocating to hedge funds - and other assets - but why lower returns should be expected.
Gavyn then compares the inflationary headwinds of the 1970/80s with today, why the Fed’s response is needed and should be taken seriously, fiscal policy and the withdrawal of the turbo-charged COVID responses, and which currencies he prefers.He goes on to discuss the challenges of excessive flows into the world of private equity, the attributes he looks for in allocating capital to venture PE and then in a series of rapid fire questions, he reveals his views on golf, the next UK PM, education, and why he loves to come to work on the London buses.
Gavyn Davies is Chairman of Fulcrum Asset Management, formerly Goldman Sachs Chief Economist and an FT columnist. He regularly writes on macroeconomics and the markets. He's previously been an adviser to the Labour government of 1974-79 and the Conservative government in the 1990s. He's also the Founder of Active Partners, a private equity firm focused on investing in high growth consumer brands.
Never miss an episode
Be the first to listen to new episodes and receive a breakdown of the key points discussed.
