Our monthly podcast brings you big-picture insights from leading investment experts, exploring the opportunities, challenges and risks shaping investor portfolios. This month’s guest is Rebekah McMillan, associate portfolio manager at Neuberger. We talk through cover a wide range of topics including the forces driving gold and silver higher, why copper and uranium could be the defining metals of the energy transition and whether the long-awaited rotation into commodities is finally becoming a reality. 00:00 Introduction 00:34 Career path 02:05 Key overweights and underweights 04:02 Vulnerability to rising oil prices 06:56 Can the S&P 500 keep rising? 08:58 The Magnificent Seven and AI capex 13:10 Opportunities in emerging markets 14:37 Investment case for China 15:50 Outlook for Japan 17:28 Thoughts on the UK and Europe 19:29 Deficits and role of sovereign debt 20:39 Is the 60/40 portfolio still relevant? 21:55 Gold and commodities outlook 23:22 Investment case for private markets 25:36 Best investment advice 26:21 Risk warning Please note that this podcast was recorded on 18 May 2026.
