During the gold rush, the real money was made not by miners but by the businesses who sold the miners their picks and shovels. Now semiconductors are poised to be the picks and shovels of the coming decade, said Derek Smashey, CFA, Co-Portfolio Manager at Scout Investments. Smashey joins Matt Orton, CFA, Chief Market Strategist at Carillon Tower Advisers, to examine what happened to the reflation trade over the last year and what to watch for in 2022 and beyond.

Energy: Rough Past. Brighter Future?

Cut through the noise and focus on the forces reshaping investing with Raymond James Investment Management’s Markets in Focus podcast series. Join us for inclusive conversations that track the developments refining investment thinking and disrupting the ever-changing global market landscape. For additional insights, visit http://marketsinfocuspodcast.com.
About Raymond James Investment Management
Raymond James Investment Management is a global asset management company that combines the exceptional insight and agility of individual investment teams with the strength and stability of a full-service firm. Together with our boutique investment managers – Chartwell Investment Partners, ClariVest Asset Management, Cougar Global Investments, Eagle Asset Management, Reams Asset Management and Scout Investments – we offer a range of investment strategies and asset classes, each with a focus on risk-adjusted returns and alpha generation. We believe providing a lineup of seasoned, committed portfolio managers – spanning a wide range of disciplines and investing vehicles – is the best way to help investors seek their long-term financial goals.