By Thierry Malleret, Co-Founder, The Monthly Barometer
There is no better gauge of global sentiments than the World Economic Forum’s (WEF) Davos Annual Meeting that took place in late January. What is the conventional wisdom now among global decision-makers and investors?
Their two biggest concerns – leaving the economy and financial instability aside: rising income inequalities and climate change.
What world economists and investors like: the US economy, long $ (dollar) and short € (Euro) and ¥ (yuan), India, technology and all the themes supported by global mega-trends (wellness, ageing, sustainability, food and water, etc.) They dislike: (most) emerging markets, energy/commodities exporters and all related assets.
Climate change was a particular concern for senior executives in the travel and tourism industry. The evidence that extreme weather events are increasing in intensity and frequency is incontrovertible. Even “mild” shifts in weather over the next few decades will cost global companies hundreds of billions of $ – they have no choice but to adapt.
An interesting feature of this year’s Davos was the realization that wellness disciplines such as yoga, meditation and mindfulness have passed an inflection point and are now becoming part of the mainstream. Mindfulness – defined by Jon Kabat-Zinn (a molecular biologist who pioneered mindfulness meditation), as: “paying attention, in the present moment, and non-judgmentally” – was at the center of many discussions. Several CEOs acknowledged that it has an impact on the workplace: it reduces stress, improves wellness and promotes calmness, clarity and creativity. So much so that it is now part of the training programs of more and more major companies, ranging from General Mills to Goldman Sachs.
ABOUT THIERRY MALLERET
Thierry Malleret is the co-founder and primary author of the Monthly Barometer, a predictive analysis provided exclusively to private investors and today’s most influential opinion and decision-makers. Previously he was a senior partner at IJ (Informed Judgement) Partners, an investment boutique for ultra-high-net-worth individuals based in Geneva. Thierry also founded and directed the Global Risk Network at the World Economic Forum (WEF), bringing together top opinion and policymakers, CEOs and academics to consider how global issues will affect business and society in the short and long term. For a number of years, Thierry conceived and implemented the WEF program at Davos. He holds MAs (in economics and history) and a PhD in Economics. He writes a Wellness Edition of his Monthly Barometer, exclusively for the Global Wellness Institute. For a copy of the full report, join the GWI as a Member or Ambassador.