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Experts who took part in MCC Budapest Lectures on ’Asset management in volatile times’ tried to navigate the maze of today's changing financial world. At the event, Derek Horstmeyer, Professor of Finance at George Mason University, Péter Kadocsa, CEO of AEGON Asset Management, and Márton Oláh, Board Member of Diófa Asset Management, all stressed that the main lesson of the past months is that even the most unexpected situations need to be considered when it comes to our finances.
The discussion was prompted by unfortunate events such as the Russian-Ukrainian war, supply chain problems, rising interest rates and record high energy prices, among others, which have made the financial world a much more unpredictable place. Participants also spoke about what ordinary retail investors need to keep in mind when managing their savings.
According to Péter Kadocsa, it is very difficult to draw parallels between the 2010s and the current decade, as there have been a number of changes that have fundamentally altered the global market, such as the supply chain disruption and the population decline in China. Márton Oláh explained that the events of the last few months will change our consumption patterns and highlighted that the next 12-18 months will have a really big impact on our daily lives. Derek Horstmeyer noted that rising interest rates are indeed having a negative impact on the economy, but in his view, this is not without precedent, as we saw a similar situation in 2015.
The speakers agreed that retail clients should rely on the advice of financial professionals for their investments, even if it comes at an additional cost, and pointed out the drawbacks of various applications specialising in so-called commission-free stock trading. They also mentioned that the lesson of the past months is to think and prepare for even the most unexpected situations and to focus on personal and closer contact with clients.
