July 27, 2026
What can investors learn from the rise and fall of great empires? Philippe Muntwyler speaks with Thierry Borgeat from arvy about geopolitics, artificial intelligence, energy, diversification and why asset management is about far more than finding the cheapest ETF.
Asset management is often reduced to fees, returns and the selection of the right ETF. But what happens to a portfolio when economic power, currencies and geopolitical alliances shift fundamentally?
In the latest episode of derfinanzplaner, Philippe Muntwyler, Co-Founder of Caveo and host of the podcast, speaks with Thierry Borgeat, Co-Founder of arvy, about what history can teach us about modern wealth planning.
The discussion draws parallels between the late Roman Empire and today’s global order: rising public debt, political fragmentation, declining competitiveness and the emergence of new centres of power. What could these developments mean for Europe, equity markets and private portfolios?
The AI boom is also examined critically. Who will ultimately benefit from the billions being invested in chips, data centres and energy infrastructure? And is a supposedly diversified ETF really diversified when a small number of US technology companies account for an increasingly large share of major indices?
The key takeaway is clear: a portfolio is not yet a wealth strategy. A sound investment solution must align with personal goals, time horizon, liquidity needs, pension planning and the investor’s actual risk capacity.
Watch the full episode on YouTube:
https://www.youtube.com/watch?v=pWqI1XQS82k
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