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Chronic conflict in Ukraine and the Middle East, stubborn global inflation, soaring military spending, and persistent tension with China haven’t stopped stocks from marching higher. 

Are stocks ignoring geopolitical risk? Is a new investment narrative emerging? How can investors profit from the remarkable global growth in defense spending? 

Sean Darby, equity strategist at Mizuho Securities shares his ideas and perspectives with co-hosts John Lee and Tom Corbett on the latest episode of Asia Centric.

Chronic conflict in Ukraine and the Middle East, stubborn global inflation, soaring military spending, and persistent tension with China haven’t stopped stocks from marching higher. 
Are stocks ignoring geopolitical risk? Is a new investment narrative emerging? How can investors profit from the remarkable global growth in defense spending? 
Sean Darby, equity strategist at Mizuho Securities shares his ideas and perspectives with co-hosts John Lee and Tom Corbett on the latest episode of Asia Centric.

Some of the world's largest and fastest-growing markets, economies and companies are in Asia. Every Thursday, John Lee from Bloomberg Intelligence and Katia Dmitrieva from Bloomberg News speak with experts and newsmakers about the big ideas and trends moving money across the region.

Some of the world's largest and fastest-growing markets, economies and companies are in Asia. Every Thursday, John Lee from Bloomberg Intelligence and Katia Dmitrieva from Bloomberg News speak with experts and newsmakers about the big ideas and trends moving money across the region.

Asia Centric by Bloomberg Intelligence

The Bull Case for Defense Stocks Could Be for Real

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/fc2a4664-2920-43ab-abcb-b16b0006463d/transcript

Launching a multi-strategy hedge fund has never been tougher. Giants such as Millennium, Point72 and Citadel dominate the space, while spiraling pay and a fierce "war for talent" have pushed entry barriers higher than ever. So why leave a top role at one of the world’s biggest funds to start a rival?

Jonathan Xiong, CEO & CIO of Arrowpoint Investment Partners and former co-CEO of Millennium in Asia, joins John Lee on the Asia Centric podcast to answer that question. With more than $1.5 billion in assets and growing, Arrowpoint is one of the most significant launches out of the region in recent years. Xiong discusses the difficulties of starting a multi-strategy fund, the hidden dangers of the "cost pass-through" model, and how he stood out from the crowd by identifying a unique gap in the Asian market.

This episode was recorded in December 2025.

Launching a multi-strategy hedge fund has never been tougher. Giants such as Millennium, Point72 and Citadel dominate the space, while spiraling pay and a fierce "war for talent" have pushed entry barriers higher than ever. So why leave a top role at one of the world&rsquo;s biggest funds to start a rival?
Jonathan Xiong, CEO &amp; CIO of Arrowpoint Investment Partners and former co-CEO of Millennium in Asia, joins John Lee on the Asia Centric podcast to answer that question. With more than $1.5 billion in assets and growing, Arrowpoint is one of the most significant launches out of the region in recent years. Xiong discusses the difficulties of starting a multi-strategy fund, the hidden dangers of the "cost pass-through" model, and how he stood out from the crowd by identifying a unique gap in the Asian market.
This episode was recorded in December 2025.

Does the World Need Another Multi-Strategy Fund?

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/c22e465c-6b2a-4d0c-ac0c-b3cb008450b5/transcript

Geopolitical risk is often seen as a market threat, yet the rivalry between Washington and Beijing is driving a wave of investment opportunities. The US push for re-industrialization is boosting demand for Asian exports in sectors such as shipbuilding, power generation and semiconductors while China’s investment in "new productive forces" accelerates its high-end manufacturing upgrade.

Timothy Moe, chief Asia-Pacific equity strategist at Goldman Sachs, joins John Lee on the Asia Centric podcast. Moe explains why technology will remain a dominant theme in 2026 and why the firm is overweight Asia ex-Japan, forecasting the region will outperform the US and Europe. He also details why South Korea remains his top pick, citing 35% projected earnings growth and reasonable valuations, and outlines the rationale for his recent upgrade of India.

This will also be our last episode for 2025 and we will re-commence on January 8 with a new line up of exciting speakers.

Geopolitical risk is often seen as a market threat, yet the rivalry between Washington and Beijing is driving a wave of investment opportunities. The US push for re-industrialization is boosting demand for Asian exports in sectors such as shipbuilding, power generation and semiconductors while China&rsquo;s investment in "new productive forces" accelerates its high-end manufacturing upgrade.
Timothy Moe, chief Asia-Pacific equity strategist at Goldman Sachs, joins John Lee on the Asia Centric podcast. Moe explains why technology will remain a dominant theme in 2026 and why the firm is overweight Asia ex-Japan, forecasting the region will outperform the US and Europe. He also details why South Korea remains his top pick, citing 35% projected earnings growth and reasonable valuations, and outlines the rationale for his recent upgrade of India.
This will also be our last episode for 2025 and we will re-commence on January 8 with a new line up of exciting speakers.

Goldman Tips Asia To Outpace The US Again In 2026

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/d63ab573-eba0-4a5a-983e-b3b600826322/transcript

SoftBank is doubling down on artificial intelligence with a $30 billion commitment to OpenAI and ambitious plans for Stargate – even as risks mount. After a 200% surge earlier this year, shares tumbled 40% in November when Google’s Gemini 3.0 gained traction, threatening ChatGPT’s dominant position in the AI race. Credit stress is rising, with CDS widening to nearly 300 basis points as funding concerns build. Investors and creditors are increasingly uneasy as OpenAI now accounts for about 20% of SoftBank’s net assets, turning what was once seen as a bold growth play into a potential source of concentrated risk.

Bloomberg Intelligence equity analyst Kirk Boodry and credit analyst Sharon Chen join John Lee on the Asia Centric podcast. Together they unpack SoftBank’s AI ambitions, its reliance on margin loans and the implications of circular financing. They also weigh up Masayoshi Son’s track record – spectacular wins such as Alibaba and painful failures like WeWork – against his latest AI gamble.

SoftBank is doubling down on artificial intelligence with a $30 billion commitment to OpenAI and ambitious plans for Stargate &ndash; even as risks mount. After a 200% surge earlier this year, shares tumbled 40% in November when Google&rsquo;s Gemini 3.0 gained traction, threatening ChatGPT&rsquo;s dominant position in the AI race. Credit stress is rising, with CDS widening to nearly 300 basis points as funding concerns build. Investors and creditors are increasingly uneasy as OpenAI now accounts for about 20% of SoftBank&rsquo;s net assets, turning what was once seen as a bold growth play into a potential source of concentrated risk.
Bloomberg Intelligence equity analyst Kirk Boodry and credit analyst Sharon Chen join John Lee on the Asia Centric podcast. Together they unpack SoftBank&rsquo;s AI ambitions, its reliance on margin loans and the implications of circular financing. They also weigh up Masayoshi Son&rsquo;s track record &ndash; spectacular wins such as Alibaba and painful failures like WeWork &ndash; against his latest AI gamble.

SoftBank's AI Gamble – Bold Vision or Risky Bet? 

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/91ff0b6b-3d66-48d3-afac-b3af00a99540/transcript

The Bull Case for Defense Stocks Could Be for Real

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