As inflation rises, inventors are questioning if central bankers are right that inflation will only be transitory. Today’s podcast guest - Karl Sternberg, chairman of the investment committee of Christ Church, one of the largest Oxbridge endowments - says there is a good case to be sceptical about central banks’ ability to ensure monetary stability.
In this interview, Karl tells Mary McDougall how investors might prepare their portfolio for a period of inflation, how quantitative easing has sparked a spate of takeover bids and what changes could encourage long-term thinking in UK equities. In a fascinating tour of economic theory, he also explains where he thinks modern monetary theory falls short.
Karl recently became chairman of Monks Investment Trust (MNKS), and is on the board of Jupiter Fund Management (JUP). He is a non-executive director of Herald Investment Trust (HIT), Clipstone Logistics REIT, Lowland Investment Company (LWI) and JP Morgan Elect (JPE). He founded Oxford Investment Partners in 2006 and before that he was chief investment officer at Deutsche Asset Management.