The Outthinking Investor with Daleep Singh

Markets trade on more than just economic data. They trade on geopolitics, technology, policy, and elections.
In a world searching for a new equilibrium, old assumptions are expensive mistakes. Daleep Singh, Vice Chair and Chief Global Economist at PGIM, has spent his career at the intersection of markets and policy, from the U.S. Treasury and Federal Reserve to the White House. Now, Daleep is sharing his perspectives with you. On PGIM's The Outthinking Investor, Daleep sits down with prominent economists, technologists, policymakers, and market veterans to map out the full distribution of what comes next—and why it matters.

Ray Dalio, founder of one of the world's largest hedge funds, Bridgewater Associates, joins us for a special edition of The Outthinking Investor.
Dalio sat down with PGIM's George Patterson, Chief Investment Officer of Quantitative Solutions, for a conversation about anticipating the onset of big market cycles and constructing balanced portfolios for new regimes. They discuss the impact of idiosyncratic risks and geopolitical shifts; the evolution of public and private credit markets; AI's transformative influence on the global economy; the five major forces that create big cycles; and the interplay between sovereign debt, the U.S. dollar, gold, and central banks. To understand big cycles, investors must look beyond the headlines and through a historical lens, Dalio explains.
Do you have any comments, suggestions, or topics you would like us to cover? Email us at [email protected], or fill out our survey at PGIM.com/podcast/outthinking-investor.
To hear more from PGIM, tune into Speaking of Alternatives, available on Spotify, Apple, Amazon Music, and other podcast platforms. Explore our entire collection of podcasts at PGIM.com.

The technology industry has spent heavily on all things AI, from training large language models (LLMs) to building up the infrastructure required to meet demand. Investments across a range of sectors with exposure to the AI boom, including cloud computing, chips, data centers and the power grid, have lifted economic growth and supported financial markets through a period of global uncertainty. One estimate from McKinsey & Co. suggests that demand for new and updated digital infrastructure will require an estimated $19 trillion in investments through 2040. Much of this capital will come from institutional investors. Supply-demand dynamics, the impact of new innovations, and the pace of adoption will help guide investors as they determine how to allocate their exposure to AI.
This episode of The Outthinking Investor explores growth opportunities and potential challenges across the AI ecosystem. Experts discuss sectors that stand to benefit from AI, intense demand for AI infrastructure, managing obsolescence risk, and whether AI can deliver on expectations for productivity and returns.
Our guests are:
Richard Waters, Technology Writer-at-Large for the Financial Times
Owen Hyde, Managing Director and Equity Research Analyst at Jennison
Learn more about the AI boom by visiting Jennison's AI Resource Center (https://www.jennison.com/campaignCountry/en/institutional/perspectives/ai-resource-center).
Do you have any comments, suggestions, or topics you would like us to cover? Email us at [email protected], or fill out our survey at PGIM.com/podcast/outthinking-investor.
To hear more from PGIM, tune into Speaking of Alternatives, available on Spotify, Apple, Amazon Music, and other podcast platforms. Explore our entire collection of podcasts at PGIM.com.

Investors might be witnessing the biggest industrial reshoring effort in more than a generation. The global race for technological superiority—particularly around AI and critical semiconductors—is pushing both private capital and government support into ramping up domestic production. Meanwhile, shifting trade policies and geopolitical risk have ignited a realignment in global supply chains impacting a wide array of industries, from furniture to automobiles. But moving factories and building out domestic manufacturing capacity will likely face some speedbumps amid mismatches in labor, materials and costs. New innovations like factory automation bring their own set of implementation challenges. Understanding how the manufacturing outlook is evolving will be crucial as investors sort out potential winning and losing regions and industries. As factories prepare for the future, institutional investors are well positioned to provide the long-term capital that manufacturers seek to modernize operations, create more resilient supply chains, and grow. 

This episode of The Outthinking Investor takes a deep dive into trade imbalances and tariffs; how manufacturers are dealing with macro uncertainty; manufacturing's role in supporting labor markets and the broader economy; potential obstacles that could slow reshoring; and portfolio strategies for capturing opportunities amid a manufacturing renaissance.   

Our guests are: 

Robert Lawrence, Albert L. Williams Professor of International Trade and Investment at Harvard Kennedy School and former member of the Council of Economic Advisers 


Julius Krein, editor of policy journal American Affairs and head of policy at the New American Industrial Alliance 


Josh Shipley, executive managing director and head of Europe at PGIM, overseeing corporate finance offices in the region 


Do you have any comments, suggestions, or topics you would like us to cover? Email us at [email protected], or fill out our survey at PGIM.com/podcast/outthinking-investor. 

To hear more from PGIM, tune into Speaking of Alternatives, available on Spotify, Apple, Amazon Music, and other podcast platforms. Explore our entire collection of podcasts at PGIM.com.

Fiscal policy shifts, from taxes to tariffs, are steering global capital and trade flows. The US, for instance, is attracting investments despite the tariff headlines—illustrating how the impact of these policies continues to evolve. In a dynamic policy environment, taxes and tariffs could create new implications for asset classes, sectors, and market structures. 

This episode of The Outthinking Investor explores macro implications from taxes and tariffs, how policy changes are shaping the way investors allocate capital, and why economic growth could be more resilient against higher tariffs than in the past. 

Our guests are:
Douglas Holtz-Eakin, President of the American Action Forum and former Director of the Congressional Budget Office
Kimberly Clausing, professor of tax law and policy at UCLA School of Law and former lead economist in the US Treasury's Office of Tax Policy
Jeffrey Young, Head of Investment Strategy for PGIM's quant team
Do you have any comments, suggestions, or topics you would like us to cover? Email us at [email protected], or fill out our survey at PGIM.com/podcast/outthinking-investor.
To hear more from PGIM, tune into Speaking of Alternatives, available on Spotify, Apple, Amazon Music, and other podcast platforms. Explore our entire collection of podcasts at PGIM.com.