Trapped by Liquidity

The outlook for 2019 looks increasingly uncertain. In the midst of rapidly fluctuating markets, central banks will step in if asset prices decline too far, according to Daniel Lacalle, chief economist at Tressis Gestion. However, he also believes that central banks will be powerless to stop a contraction in earnings multiples, and that the injection of additional liquidity will exacerbate the disinflationary trend. Despite this, the nimble investor can find many exceptional buying opportunities throughout 2019, Lacalle argues in this interview with Roger Hirst. Filmed on December 7, 2018 in London.