Investment strategies and AI reflections for MEB’s first Anglophone guest speaker

For its first conference in the language of Shakespeare, Monaco Economic Board (MEB) hosted Edmund Shing, Chief Investment Officer responsible for investment strategy at BNP Paribas Wealth Management. A captivating and instructive speaker, the finance expert addressed a whole range of topics with brio.

Monaco Economic Board has launched a new series of talks in English by guest speakers forthe business community more at ease in a language that is so widely used in the workplace. For the first one, MEB partnered with the private banking group, BNP Paribas Wealth Management, present in the Principality since 1904. Its Chief Investment Officer responsible for investment strategy, Edmund Shing, kicked off the new formula in style with a lively and very instructive talk.

A speech of two halves, the economist began by focusing on the current “abnormal” economic context. Using a series of well-explained graphs of data and curves to illustrate his points in rapid succession, he described clearly how they related to recent exceptional events like the health crisis and war in Ukraine.

For example, the sudden sharp rise in interest rates, the reaction of central banks to inflation and resulting collapse in loans. And the tensions in labour markets with employment rates never seen before in many countries as major crises unfolded. In the same vein, despite the international situation, stock markets have continued to perform which means companies have been in a position to carry on reaping the benefits and issuing dividends. In short, at least one positive observation. The economist recognises that a slowdown is necessary and inevitable but that the starting point is favourable.

The second half focused on the challenges ahead, starting with artificial intelligence. Edmund Shing is an expert but as an investor recommends caution. Previous technology breakthroughs have systematically led to bubbles in the markets, bubbles that burst to return to more rational values. And in that game there will always be winners and losers. 

Among his recommendations, he believes safe havens such as gold and rare metals, notably those required for batteries and semi-conductors, are good options. In his view, transactions in the fields of finance, energy and health should also be prioritised.

In the Q&A that followed, AI dominated the discussions as a subject that both fascinates and worries everyone, showing that the debate is far from over. It was clear at the cocktail that participants thoroughly enjoyed the talk, both for its content and the fact it was in English.

Guillaume Rose said afterwards: “This new series of talks by expert guest speakers takes account of the reality: Monaco is an international hub where 140 nationalities live in harmony, both residents and employees. In organising events in English, Monaco Economic Board aims to be more representative than ever of the Principality’s business community”.