Macroeconomy

Perspectives - Entertainment: a serious business

How the new normal is changing our leisure time

César Pérez Ruiz, Head of Investments & CIO, Pictet Wealth Management

Perspectives - Entertainment: a serious business

This issue’s focus is how the ‘new normal’ is changing our leisure time. The covid-19 pandemic has impacted many aspects of our life – from the way we work to the way we spend our free time. Imposed lockdown measures meant the vibrant out-of-home world of travel and leisure came to a halt. But lockdown measures proved a benefit for entertainment that can be consumed at home. In this issue, we address the issue of whether the pandemic has forever changed the way we spend our leisure time.

Other topics include the nature of the post-coronavirus recovery. We continue to expect that the post-pandemic road to economic recovery to be bumpy and believe the rate of travel will largely depend on the behaviour of consumers, particularly in the US.  The impact of the pandemic on our long-term return expectations is another important subject as low rates mean improved returns for equities and equity-like assets, while covid-19 is leading us to widen the scope of our research into market and economic drivers. The issue also includes an outlook for gold, which bears no credit risk, is an effective store of value and is broadly negatively correlated to the US dollar. Along with the outlook for sustainable real estate, this issue also looks at the way ‘goals-based investing’ is challenging traditional portfolio management.

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