Joachim Klement: Geopolitics, Inflation, and Portfolio Strategy
From Enterprising Investor by CFA Institute
May 1, 2026 · 31 min · Episode 563
About this episode
Joachim Klement discusses the investment implications of the current geopolitical environment and offers insights on portfolio construction.
Joachim Klement joins Mike Wallberg, CFA, to break down the investment implications of today's geopolitical environment. From energy market disruptions to shifting trade dynamics, Klement explains how global events feed through to inflation, interest rates, and asset valuations. The conversation also explores how investors can separate noise from signal, rethink international diversification, and incorporate assets such as commodities to better manage geopolitical risk. With markets increasingly shaped by policy and global tensions, Klement offers a practical lens for portfolio construction. Listen today to learn how to position portfolios in a more complex and interconnected world, and find Joachim's Research Foundation brief, The Geoeconomic Decade , on the CFA Institute Research and Policy Center website: https://rpc.cfainstitute.org/research/foundation/2025/geoeconomic-decade.
People in this episode
Host: Mike Wallberg
Guest: Joachim Klement
Topics covered
- geopolitics
- inflation
- portfolio strategy
- international diversification
- commodities
- geopolitical risk
Keywords
- geopolitics
- inflation
- portfolio strategy
- commodities
- international diversification
- asset valuations
- geopolitical risk
Mentioned in this episode
Organizations: CFA Institute, CFA Institute Research and Policy Center
Books & works: The Geoeconomic Decade
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