He covered a bunch of topics in his interview with the BBC. Here's his take on the Middle East conflict:
- If Iran remains a threat and higher oil prices hold, it will have "profound implications" to the global economy
- It is too early to say what the outcome will be on the conflict
- However, it is likely to lean towards one of two extreme outcomes
- The first being the war ending and Iran becomes a country that can be accepted again by the international community
- That will see oil prices fall back to below where it was before the war started
- The other, could lead to "years of above $100, closer to $150 oil"
- And that will probably trigger a stark and steep recession
- If oil prices keep closer to $150 for a few years, many countries would be rapidly moving to solar and maybe wind energy
As for the overall market feel and how equities are faring, he had this to say:
- There are zero similarities to the financial crisis in 2007-08
- Overall market and investment from institutions remain strong
- "I do not believe we have a bubble at all"
- There could be a few stumbling blocks with AI but "that I'm fine with"
- There is a race now for technology dominance, mandatory to build out AI capabilities
His comments aren't ones that will move markets but they are worth noting generally.
