Investors worldwide are growing more optimistic about future market returns and the prospects for global GDP growth. This optimism is a natural response to subsiding macroeconomic headwinds; yet, focusing solely on the removal of barriers to economic growth ignores an equally important factor - the drivers of growth. Which are more important: the influences that hinder economic growth or the influences that enable it? And what do the answers imply for the classic tasks of investors: asset selection, portfolio allocation, and risk management?
Innovation is a key driver of economic growth. Joseph Schumpeter, an early 20th century economist, introduced the concept of “creative destruction,” through which innovation displaces old technology, products, processes of production, markets, and organizations by the new. Since World War II, some of the most successful asset managers have distinguished themselves by perceiving these displacements and investing accordingly. But it seems that with every economic recovery, entrepreneurs and executives have argued that their ‘new’ products will revolutionize an industry. For investors, the process of identifying true innovation and understanding its investment implications is much more complicated.
The 7th Annual University of Virginia Investing Conference (UVIC) will explore the growth economy, areas of innovation and their implications for investors. The conference will explore growth and innovation from the perspectives of financial analysts, portfolio managers, industry executives, and innovators. UVIC will provide valuable insights and actionable strategies for investors as they seek to identify the drivers of future growth.
Patrick Soon-shing, CEO and Chairman of the Board of NantWorks LLC
Kathy Warden, Corporate Vice President and President of Nothtrop Grumman Information Systems