Personable Markets: US Tariffs, FED Independence & Rate Cuts, UK Economy Concerns | Lia Forcina

This is the 3rd episode of Personable markets in which I aim to speak to a hedgefund manager, VC or Investment Banker every week on real world market events. In this episode I speak to...

Lia Forcina who is a partner and portfolio manager at LGR Capital in London. She previously held roles at BlueCrest Capital, SAC Capital (now Point72), and Morgan Stanley. Lia holds a Bachelor’s degree in Finance from the University of Rome Tor Vergata (110/110 cum laude) and a Master’s degree in Statistics and Econometrics from Università Cattolica del Sacro Cuore. 

In this episode, Lia reveals:
◽️ The surprising impact of tariffs on global inflation
◽️ Why Federal Reserve independence faces growing scrutiny
◽️ Her secret to navigating UK’s economic challenges
◽️ The hidden struggles of Europe’s regulatory environment
◽️ The power of US markets and corporate relocations

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⏱ Timestamps
00:00 Intro
00:44 Tariffs and Inflation Concerns
01:44 Tariff Legal Challenges, Outcomes
02:07 Companies Absorbing Tariff Costs
04:42 Tariffs’ Net Economic Impact
05:15 Strategic Production Shift from China
07:28 Europe’s Business Relocation Losses
09:02 UK Economic Decline, Budget Risks
09:47 UK Autumn Budget Implications
11:16 New UK Worker Rights Laws
12:35 Costly Employment Regulations
14:42 UK Investment Opportunities, Risks
15:04 Civil Service as Safe Sector
15:49 S&P 500 Overvaluation Debate
17:17 US Economic Resilience Advantage
17:32 UK Regulations Stifling Growth
19:31 EV and Grid Infrastructure Issues
20:47 Welfare’s Work Disincentive Problem
21:25 France’s Political, Economic Instability
22:11 France’s Welfare and Productivity Crisis
25:21 Crisis-Driven Economic Reforms
30:15 Elon Musk’s Unique Compensation
30:42 Banks Embracing Crypto, Gold
32:06 Trading Revenue Outpacing M&A
34:15 Private Firms’ Systemic Importance
34:45 Strong European M&A Activity
38:20 Undervalued Financial Sector Opportunities
40:49 AI Enhancing Finance Productivity
44:58 Creativity Over Technical Skills
45:59 Human Nuance in AI Era
47:14 Broader Education for Success
49:12 AI Investment Overspending Risks
51:54 Defense Stocks’ Long-Term Growth
53:04 Europe’s Rising Defense Spending
53:23 Fed-Government Relationship Tensions
53:54 Trump’s Fed Influence Overhyped
57:27 Filtering Media Noise Effectively
59:27 Banks’ Economic Leverage Risks
1:02:49 Outro

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📌 Resources
Lia Forcina
◽️ Linkedin: https://www.linkedin.com/in/lia-forcina-17352459 

Harvey Bracken-Smith:
◽️ LinkedIn: linkedin.com/in/harveybracken-smith
◽️ Instagram: instagram.com/harveybsmith
◽️ X (Twitter): x.com/harveybsmith_
◽️ Newsletter: https://personable.substack.com/

Personable Podcast:
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Additional:
◽️ The Draft (Sign up): thedraft.io
◽️ Fundraising: justgiving.com/crowdfunding/LouLouRacefoiundation?utm_term=PvByaxmdn

Personable is a podcast dedicated to helping listeners become the best they can be by learning from the world’s best in their respective fields. This mission is inspired by my mother, Louise, who encouraged me to become the best version of myself before she passed away from cancer in 2023.

This content is for informational and entertainment purposes only and is not financial advice. Always consult a qualified financial advisor before making investment decisions. Investing involves risks, and past performance is not indica