https://www.ft.com/content/58fe78bb-1077-4d32-b048-7d69f9d18809
Europe doesn’t work hard, has no ambition, and is full of regulations and risk aversion.
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Norway’s sovereign wealth fund and the world’s largest fund company
With the Chairman’s remarks
Explaining why the gap between the US and Europe is growing day by day
did it
he is
American companies have consistently outperformed European companies over the past decade in terms of innovation and technology.
He said he was “genuinely concerned” about it.
Europe’s problems are not simply material, but are problems of thinking itself.
In America, if you fail, you get another chance, but in Europe, the moment you fail, it’s literally over.
Additionally, he pointed out that there is also a problem of ambition. “
Look at us Europeans. How humble their ambitions are. I know work-life balance is a sensitive topic, but Americans work much harder.
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His views are worth listening to as the largest single fund holding 1.5% of global stocks and 2.5% of European stocks.
However, while Norway’s sovereign wealth fund has recently continued to increase its holdings in U.S. stocks, it has continued to reduce its holdings in European stocks.
In 2013, U.S. stocks accounted for 32% of the Norwegian sovereign wealth fund portfolio, but as of 2024, they will account for a whopping 50%.
Do it.
The Norwegian sovereign wealth fund’s stake in stocks related to the UK, one of the major European countries, was 15% 10 years ago, but last year it was only 6%.
That is why the Norwegian fund is said to be paying close attention to the results of the US presidential election.
“I shouldn’t comment too much on the US presidential election, but we are in a great state.
We plan to invest in American companies for the long term, and will continue to invest in the United States regardless of American politics. Half of our assets are in American stocks
As much as “
Norway’s sovereign wealth fund
Altogether, we are investing in 9,000 companies, but only 7 of them – Google, Amazon, Apple, Meta, Microsoft, NVIDIA, and Tesla – account for more than 12% of our assets.
It is said that there is
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As the artificial intelligence industry expands, large corporations will become even bigger, and there is a possibility that winner takes all.
He said that after talking with executives of American companies, they said that doing business in Europe is difficult due to all kinds of regulations and government interference.
“I’m not saying that American management is necessarily good, but
In the United States, the artificial intelligence industry is growing rapidly and there are no regulations on business activities, while in Europe, the artificial intelligence industry is almost non-existent and only full of regulations.
Isn’t this result interesting? “