在Hidden Forces的第402集中，Demetri Kofinas与Holowesko Partners的创始合伙人兼首席执行官Mark Holowesko探讨了全球经济走向以及美中地缘战略竞争对资产市场的影响。Holowesko分享了他基于价值投资的宏观框架，对政府债务、利率和通胀的担忧，以及全球流动性的趋势。他认为2022年标志着价值投资的长期转折点。两人还深入探讨了美国以外的投资机会，特别是在英国和日本，以及评估中国投资机会的方法，包括风险评估。此外，他们还讨论了Holowesko的投资流程，对黄金的看法以及美国能源领域的机遇。

💰Mark Holowesko基于价值投资的宏观框架，关注政府债务对利率和通胀的影响，以及全球流动性趋势，为投资者提供参考。

🌍Holowesko认为2022年是价值投资的长期转折点，暗示了未来投资策略可能需要重新评估和调整。

🇯🇵🇬🇧节目探讨了美国以外的投资机会，特别是在英国和日本，为投资者提供了多元化投资组合的思路。

🇨🇳节目深入探讨了投资中国市场的风险和机遇，为投资者提供了更全面的视角来评估中国市场的潜力。

In Episode 402 of Hidden Forces, Demetri Kofinas speaks with Mark Holowesko, the founding Partner and Chief Executive Officer of Holowesko Partners—a Bahamian-based, value-oriented investment firm that allocates capital across a wide range of industries, geographies, and market capitalizations.

This episode is part of a series in which Demetri interviews value investors, motivated by his concerns about how the global economy’s direction and the ongoing geostrategic competition between the U.S. and China will impact asset markets in the coming years.

In the first hour, Holowesko and Kofinas discuss:

1. Mark’s macro framework and approach to value investing

2. His concerns about government debt and its implications for interest rates and inflation

3. Trends in global liquidity

4. The future direction of the U.S. dollar

5. Why Holowesko believes that 2022 marked a long-term turning point for value investing—with enormous implications for investors

In the second hour, Mark and Demetri explore some of the most promising investment opportunities outside the United States—particularly in the UK and Japan—as well as how to assess similar opportunities in China, whether the country is investible, and the risks investors face when deploying capital in Chinese companies and the broader Chinese market. They also delve deeper into Mark’s investment process, his views on the role of gold in one’s portfolio, opportunities in the U.S. energy sector, and much more.

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Producer & Host: Demetri Kofinas Editor & Engineer: Stylianos Nicolaou

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Episode Recorded on 02/11/2025