They want to allow Nikolai Tangin to break free from unlisted stocks, three out of four have invested themselves in index funds, and believe that geopolitics determines the development of stock markets.
The Norges Bank Investment Conference has the theme “How to Become a Better Investor”. E24 asked some of the participants who the best investor out there is and what they are most focused on now when it comes to future developments in the stock markets.
And yes, they will let the oil fund and Nikolai Tangen lose their unlisted shares.
Question E24:
1. Should Oljefondet be allowed to invest in unlisted stocks (private stocks)? If so, what about the fund's political risks?
2. Do you have or can you imagine investing significant portions of your own wealth in an index fund?
3. Who is the best investor here today?
4. What is the most important potential catalyst, trend, indicator or event that could affect the global stock market in the future?
Frode Strand Nielsen, founder and chairman of private equity firm FSN Capital:
1. All large serious pension funds invest in unlisted stocks. Then we should also join. There is no greater reputational risk in private equity than in listed equities. Maybe on the contrary.
2. Everything I don't own in my own company, I own in index funds.
3. Nikolai Tangen.
4. The greatest risk in the short term is various shocks and geopolitical instability. And in the long term, climate and artificial intelligence.
Knut Brundtland, Chairman of the Board of Directors of the brokerage house ABG Sundal Collier:
1. The Fund should be allowed to do so. It provides additional returns over time and provides diversification (risk spread, editor's note). The most important thing to avoid political risk is to have good procedures and processes in place no matter what you invest in. There is a reason why there is enough confidence in Norges Bank as an investor now to allow public investments in unlisted shares outside of real estate and unlisted shares. infrastructure .
2. Either at the end of my life or if I inherit a very large fortune in liquid assets, I should consider index funds. But since I had to build my wealth myself, it was not possible to use index funds.
3. The best is Andreas Halvorsen. Andreas has generated returns for his investors and built wealth himself.
4. Artificial intelligence will be developed. What major powers do with regard to regulating AI will have a lot to say. Additionally, I'm excited about what's happening regarding Taiwan.
Elizabeth Holvik, chief economist at Sparebank 1:
1. Yes. There is a great deal of infrastructure to be built in the world. This would be a great fit for the oil fund's long-term investment horizon.
2. Yes, I have some money in index funds. I put the money a little diversified.
3. I don't know that. But here you have to look at history. Who achieved the greatest risk-adjusted return? (The correct answer is probably Ole Andreas Halvorsen with around NOK 450 billion in net return to investors since starting Viking Global Investors in 1999).
4. Geopolitical risks. It leads to where the capital goes. It also drives inflation, interest rates and technological development.
Knut N. Kjær, former director of Olgefund, who is now Chairman of the Board of Directors of the hedge fund company's asset management sector:
1. One should be present in the entire investment world.
2. In principle, I'm very much in favor of leaving a lot of money in index funds, yes.
3. I won't say who is the best investor here.
4. The greatest danger is the outbreak of a major war. Without it, the markets will be able to continue rising.
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