Alternative Realities: Tech-driven alternative investment
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In this episode of Alternative Realities, we delve into the transformative landscape of venture and growth equity investing with a focus on technology and healthcare. Dr. David Kelly, Chief Global Strategist at J.P. Morgan Asset Management, is joined by Patrick McGoldrick, Managing Partner of J.P. Morgan Private Capital, to discuss the evolution and current landscape of venture capital.
The conversation highlights the high-risk, high-reward nature of venture capital, the importance of skilled management and the strategic approach J.P. Morgan employs in identifying investment opportunities.
Join us as we explore the competitive advantages J.P. Morgan Asset Management offers as a partner to its portfolio companies and uncover the potential of venture and growth equity investing in today's market.
Resources:
For more resources on Alternatives, visit our Guide to Alternatives, Principles of Alternatives Investing, and Alternatives 2025 Outlook
Subscribe to the Notes on the Week Ahead podcast for more insights from Dr. David Kelly: Apple Podcasts | Spotify
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20:21
A healthier outlook for healthcare
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As the world emerged from the pandemic, healthcare companies encountered several challenges, including declining COVID-19-related revenues, increased R&D expenses and rising labor costs, all of which impacted earnings. Although the sector began to recover from its prolonged earnings slump in 2024, performance remained sluggish. Healthcare stocks rose just 2.6% last year, with performance suffering most after the election. Importantly, the healthcare sector is comprised of a range of sub-industries and performance beneath the surface has diverged. For example, as the sector has addressed the backlog of elective procedures delayed during the pandemic, healthcare facilities and equipment manufacturers have performed well, while insurers have struggled. When seeking exposure to growth themes driving markets, investors often overlook healthcare in favor of other sectors. That said, whether it be GLP-1 drug development or AI-powered customized therapies, the reality is that the sector is at the epicenter of transformational change. Looking ahead, healthcare earnings are set to improve in 2025. However, policy actions taken by the incoming administration could meaningfully alter the sector’s landscape.
On this episode of Insights Now, Gabriela Santos, is joined by Holly Morris, an equity research analyst covering the healthcare sector and a portfolio manager here at J.P. Morgan Asset Management.
Subscribe to the Notes on the Week Ahead podcast for more insights from Dr. David Kelly: Apple Podcasts | Spotify
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30:14
Alternative Realities: Opportunities in global forestry and timber
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In this episode of Alternative Realities, we explore the world of timber as an alternative investment asset class. Dr. David Kelly, Chief Global Strategist at J.P. Morgan Asset Management, is joined by Angela Davis, President of Campbell Global, a subsidiary of J.P. Morgan Asset Management, to explore the unique benefits and opportunities timber offers to investors.
The discussion covers the perpetual lifecycle of timber forestry, the global footprint of Campbell Global’s forest management and the sustainable nature of timber as a climate-friendly product. The conversation also touches on the impact of tariffs, environmental regulations and the growing demand for sustainable building products.
Join us as we uncover the potential of timber in providing diversification and protection during periods of market volatility and learn about the exciting developments in carbon offsets and their significance in the timber industry.
Resources:
For more resources on Alternatives, visit our Guide to Alternatives, Principles of Alternatives Investing, and Alternatives 2025 Outlook
Subscribe to the Notes on the Week Ahead podcast for more insights from Dr. David Kelly: Apple Podcasts | Spotify
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21:36
Key themes powering utilities
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Utilities have traditionally been known for their defensive properties, which makes the combination of robust economic growth, technological excitement and elevated bond yields an unlikely recipe for their strong performance. That said, the sector’s 23% gain kept pace with the broader market last year. In 2025, this momentum should continue. After two decades of stagnant power demand, the electrification of the U.S. economy and the intense power needs of generative artificial intelligence should prompt demand to inflect higher. Additionally, with our aging grid infrastructure and more frequent extreme weather events, finding enough capacity to provide adequate electricity supply won’t be easy. These themes, and others, should highlight winners across the utilities sector. For investors looking to diversify tech exposure, utilities could offer an attractive way to invest in the many themes driving markets today, but with a very different wrapper.
To share what she’s seeing across the utilities sector, Gabriela Santos, my new co-host, will be joined by Teresa Kim, a utilities-focused equity research analyst here at J.P. Morgan Asset Management.
Resources:
Subscribe to the Notes on the Week Ahead podcast for more insights from Dr. David Kelly: Apple Podcasts | Spotify
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17:27
Alternative Realities: Building an investment plan with alternatives
Watch the video version on YouTube.
In this episode of Alternative Realities, we explore the dynamic world of alternative investments and their increasing accessibility to a broader range of investors. As these asset classes become more mainstream, we discuss their role in diversifying portfolios and enhancing returns.
Dr. David Kelly, Chief Global Strategist at J.P. Morgan Asset Management, is joined by David Lebovitz, Managing Director and Strategist at the Multi-Asset Solutions Group, to discuss the inception and evolution of the Guide to Alternatives. They delve into the structure and importance of alternative investments, the integration of alternatives into multi-asset portfolios and the challenges of sizing these allocations.
Resources:
For more resources on Alternatives, visit our Guide to Alternatives, Principles of Alternatives Investing, and Alternatives 2025 Outlook
Subscribe to the Notes on the Week Ahead podcast for more insights from Dr. David Kelly: Apple Podcasts | Spotify
Listen to the latest insights from Dr. David Kelly, Chief Global Strategist, and Gabriela Santos, Chief Strategist for the Americas at J.P. Morgan Asset Management, as they sit down with a variety of thought leaders for a conversational breakdown of big ideas, future trends, emerging topics, and their investment implications, helping to inform the building of stronger long-term investment plans.
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