Great Power Politics & International Stocks

Ram Ahluwalia hosts a live Non-Consensus Investing episode covering Davos, his travel plans (Miami and Dubai), and a long discussion of “great power politics” framework: countries operate in international anarchy, seek survival, can’t know others’ intentions, and therefore try to build power, making a rising China an “aspiring hegemon” and increasing the risk of U.S.-China conflict despite trade ties; he highlights nationalism, reputation, China’s push to control the “first island chain,” and why the U.S. will try to prevent other regional hegemons. He then shifts to markets, arguing software stocks may have bottomed (using HubSpot as an example) and suggesting investors scale in. He shares international opportunities (América Móvil, Greece/Alpha Bank, other country and bank examples), notes rotations in U.S. retail/value, discusses fintech and defense tech, comments on Fed chair possibilities favoring Rick Rieder, and outlines a rotation from older high-beta names (Robinhood/Palantir/Bitcoin) toward biotech, space, drones, and rare earth themes.

Lumida Wealth : Non-Consensus Invest Beyond the Ordinary