Today on the show, we’re taking the long view, the very long view. Our guest isPeter Oppenheimer, the head of macro research in Europe for Goldman Sachs, and the author of Any Happy Returns: Structural Changes and Super Cycles in Markets. We talk with him about how changes in technology and finance create cycles that shape markets, and investment returns, for decades. Also, we go long healthcare, short Tesla, and short private clubs. For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedofferFollow Ethan Wu (@ethanywu) and Katie Martin (@katie_martin_fx) on X. You can email Ethan at [email protected] a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

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“What did the council decide on item 42?” — answered with the speaker and the moment.