Julie Cane of Democracy Investments - Investing in Freedom

Episode • Sep 26, 2023 • 29m

Democracy as an investment theme is not solely driven by ideology. It's grounded in data and a deep understanding of global dynamics. By understanding the relationship between geopolitics and investment, individuals can make more informed decisions about where to allocate their capital, aligning their investments with their values and convictions.

In this episode, Rusty and Robyn talk with Julie Cane, Co-Founder, Managing Partner, and CEO of Democracy Investments. Julie began her career as a U.S. naval aviator flying the SH-3 Sea King helicopter. In 2002, Julie developed Wells Fargo Private Bank's first high net worth and segmentation strategies, resulting in over a 100% increase in the division's profits for the next three years. Julie's background in financial services includes developing market-leading innovations at Wells Fargo, Charles Schwab Advisor Services, SEI Investments, and Autodesk Ventures.

Having served in a capacity that allowed a unique vantage point into the world's political landscape, Julie talks to Rusty and Robyn about democracy and how it is good for investors. She highlights how global democracies impact the markets and why it makes sense to invest in freedom. Julie also provides an interesting and useful perspective on international investing, shedding light on the benefits of transparency, stability, and a commitment to freedom.

Key Takeaways

[02:47] - Julie's background and professional career.
[03:54] - The inspiration behind Democracy Investments' foundation.
[05:53] - What sets Democracy Investments' international ETF apart from other international funds.
[07:15] - Why the economies and markets of democratic economies are better than the authoritarian ones.
[08:24] - Julie's thoughts on the decline of democracy over the last 16 years.
[09:36] - How Democracy Investments uses The Economist's democracy index to measure democracy.
[10:23] - The countries with the best and worst performance in terms of democracy.
[12:42] - The countries whose portfolio weights have gained and lost the most.
[13:51] - Julie's perspective on the shifting structure of the global economy.
[15:59] - Julie's take on the congressional probe into MSCI and BlackRock.
[19:19] - Julie's view on the impact of artificial intelligence on the industry.
[20:10] - The investment idea Julie likes the most.
[21:05] - How Julie maintains her physical and mental energy to perform at her best.
[23:21] - The people Julie is thankful for professionally.
[26:22] - Julie's recommendations for content.

Quotes

[04:00] - "Our company was born out of concern for democracy. With my time serving, I became aware, at a young age, of trends in democracy. After I got out, I stayed in touch with my friends who are still serving, and they opened my eyes to everything going on in the world." ~ Julie Cane

[06:08] - "We want to provide investors with an alternative for international exposure that accounts for geopolitical risk. We achieve that by starting the same basket on stocks in an all-world ex-U.S. index." ~ Julie Cane

[08:02] - "We believe democracies will outperform authoritarians because they're more transparent and are less corrupt. Authoritarians do not want capitalists to be bigger than the state." ~ Julie Cane

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