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For Hughes Beuzelin, it’s time to come back to infrastructure, industry, energy and finance. The improvement is there.
Interview by Laurence Allard
Hughes Beuzelin, co-founder and director of collective management of BDL Capital Management.
Published on
Point : Is the rebound in the equity markets, once again, an illusion or is it based on concrete elements: stronger than expected growth, solid job market, rise in corporate results higher than expected?
Hughes Beuzelin : Our central scenario is that the rebound may persist, as it comes after a sharp market correction and when corporate order books are at their highest. Some valuations have become attractive.
Isn’t the expected recession likely to challenge these fundamentals?
Recession seems inevitable: companies will experience a pinch in their margins in 2023, higher wage increases than in 2022, difficulties in recruiting and energy prices…
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