Torsten slok biography sample
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They go on television and answer reporters’ phone calls to make the bank’s brand visible and project expertise not only to big-money clients but to everyday investors. “That leaves retail investors as the big source of untapped demand,” Whitt says. “I found a very nice job, thank you very much,” he replies.
Slok is 6-foot-5, but he’s anything but imposing.
“He thinks straight and simple (not a quality all chief economists have),” Olivier Blanchard, a Massachusetts Institute of Technology emeritus professor and former International Monetary Fund chief economist, wrote in an email. “The economics profession was totally wrong. and back on television by 8:30 a.m., trying to give investors a sense of where interest rates might go next.
Slok’s hiring was a sign of the firm’s ambitions to nudge aside traditional players and put itself at the center of both investor portfolios and the Wall Street conversation.
Big calls get people talking, and the New York-based Slok is willing to deliver.
"We need 2 million immigrants per year to sustain growth."
PFI Talks Vol. 7 – Otavio
Costa
The seventh guest of the PFI Macro Anchor Podcast was Otavio (Tavi) Costa, a Macro Strategist at Crescat Capital. More than 500 subscribers sign up each week, according to an Apollo spokeswoman. On the other hand, the country has economic “tailwinds” the rest of the world doesn’t, namely an artificial intelligence boom as well as fiscal stimulus from the Inflation Reduction Act and other federal legislation signed by President Joe Biden.
Making predictions, and occasionally being wrong, is “the name of the game,” he says. Slok’s prediction was wrong in a specific way—the Fed would cut three times in 2024. “The challenge is communicating and translating [the economic situation] without using Greek letters and using fancy econometrics.” Zelter says Slok “can take a very complicated topic and boil it down to three things on a page.” For investors, that brevity is like a superpower.
“We’re drinking from a fire hose of information,” says Ben Carlson, director of institutional asset management at Ritholtz Wealth Management LLC.
Slok “doesn’t belabor the point. he called a Middle Eastern sovereign wealth fund. The best he can do is scour the world for fresh data, then use each piece to fill in some small part of a big picture. Investment banks such as Goldman Sachs Group Inc. have employed high-profile economists, strategists and other big-thinking experts for decades.
Our discussion primarily considers the joint states of the economy and inflation - where we’ve been, where we’re headed and the read through on Fed policy. "What Lies Ahead for the US Economy Post-Election?"
Interview in English
Interview with English subtitles
Torsten Slok, CFA
Chief Economist and Partner / Apollo Global Management
Torsten Slok has more than 30 years of professional working experience as an economist.
“The worst investors are those who just find one pet indicator,” he says, and that one metric drives their “whole worldview.”
The past year showed that high interest rates alone can’t trigger a downturn. he joined the regular investment committee meeting for Apollo’s private equity group.
And why were they wrong?” he asks rhetorically. When Slok was growing up in Roskilde, a city of 50,000 people 30 kilometers (19 miles) west of Copenhagen, his father was an economist who participated in economywide wage negotiations between unions and employers, a key plank of Denmark’s social welfare state, which suffused his upbringing.