Why Market Concentration Is Shifting and What Comes Next | Benjamin Jones, Invesco
Dollars & Dirhams, Episode 25
Sumeet Gill sits down with Invesco’s Global Head of Research for a conversation that moves from gold and precious metals to US equity concentration, Middle East diversification, AI in investment research, and what a sensible 10-year portfolio looks like right now. No forecasting theatre. No soft answers. Just a clear-eyed read on where the evidence points.
Guest: Benjamin Jones, Global Head of Research | Invesco
Host: Sumeet Gill, Vice President, Investments | Continental
WHAT WE COVER
🔹Gold and precious metals in 2025: why reserve managers are building positions, what the shift away from US Treasuries actually means, and where Benjamin Jones sees gold, silver, and copper prices heading into 2026
🔹US equity concentration: the top ten S&P 500 names, slowing earnings growth in AI, and why valuation is starting to matter again after years on the sidelines
🔹The case for looking outside the US: UK, Europe, parts of Asia, and the Middle East as regions where the growth-to-valuation ratio is more compelling today
🔹Private equity, alternatives, and the breakdown of traditional correlations between asset classes
🔹AI in investment research: where it genuinely helps, where it produces convincing nonsense, and why critical thinking is still the edge a good analyst has
🔹Building a 10-year portfolio today: valuation tilt, defence spending exposure, inflation-resilient assets, and the value of having skin in the game
NOTES AND DISCLAIMER
This episode is a general discussion for informational purposes only. Nothing shared here constitutes financial advice, a solicitation, or a recommendation to buy or sell any asset. Investment outcomes vary by individual circumstances, jurisdiction, and market conditions. Regulatory and underwriting conditions differ across regions. Always consult a qualified financial adviser before making investment decisions.
Share
Downloads
Get this podcast on your phone!
