Beyond Consensus:
Thoughts from the Dismal Roundtable
About Our Podcast
Beyond Consensus: Thoughts from the Dismal Roundtable, is a podcast where we’ll go beyond the headlines and inside the numbers, digging into the macro and market issues investors are asking us about.
We’re not aiming for consensus, but rather a better understanding of the forces shaping our world. And we’ll try to tackle the topics of the day with insight, a plucky spirit and a touch of humor. Because while we take these topics seriously, we’ll try not to take ourselves too seriously—as the name implies.
Whether you’re a capital-markets veteran or just looking to understand the macro and market forces shaping the landscape, this is your space for discovery, join us!
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The End of US Exceptionalism?
Tariffs. Retaliatory tariffs. Tariff pauses. In the wake of the tempest of April 2025, global investors are asking: Is the US still exceptional? We’ll explore this topic on several levels. Cyclically speaking, exceptionalism still seems intact, but it’s overshadowed by anti-US sentiment and structural concerns—including a heavy debt burden. At the strategic level, we’ll weigh the “pro” and “con” cases. And we’ll tackle the other big question: What does all of this mean for US stocks, bonds and the dollar?
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Meet the Speakers
At AB
Experience
Richard A. Brink is a Senior Vice President and Market Strategist in the Client Group. Previously, he served as a managing director in the Alternatives and Multi-Asset Group. Prior to that role, Brink was a senior portfolio manager in Fixed Income, and before that an investment director for fixed-in ...
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At AB
Experience
Eric Winograd is a Senior Vice President and Director of Developed Market Economic Research. He joined the firm in 2017. From 2010 to 2016, Winograd was the senior economist at MKP Capital Management, a US-based diversified alternatives manager. From 2008 to 2010, he was the senior macro strategist ...
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At AB
Experience
Alla Harmsworth is Co-Head of Institutional Solutions and Head of Alphalytics at AB. She was previously head of European Quantitative Strategy at Bernstein Research. Prior to joining Bernstein in 2015, Harmsworth worked for two years on Nomura's Institutional Investor-ranked European Equity Strategy ...
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At AB
Experience
Inigo Fraser Jenkins is Co-Head of Institutional Solutions at AB. He was previously head of Global Quantitative Strategy at Bernstein Research. Prior to joining Bernstein in 2015, Fraser Jenkins headed Nomura's Global Quantitative Strategy and European Equity Strategy teams after holding the positio ...
Explore Full BioRelated Insights
The US economy is important, but it’s not the only one in a global approach.
Macro and market changes reach well beyond tariffs—what’s next for investors?
Could US assets lose their safe-haven status? We cut through the noise to assess the risks—and opportunities.
For Investment Professional use only. Capital at risk. Not for inspection by, distribution or quotation to, the general public.
The value of an investment can go down as well as up and investors may not get back the full amount they invested. Capital is at risk. Past performance does not guarantee future results.
Note to all listeners: The views expressed in this podcast do not constitute research, investment advice or trade recommendations and do not necessarily represent the views of all AB portfolio-management teams and are subject to revision over time. The views expressed in this podcast may change at any time after the date of this publication. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor’s personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information does not constitute investment advice and should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AB or its affiliates.
References to specific securities are provided solely in the context of the analysis presented and are not to be considered recommendations by AllianceBernstein. AllianceBernstein and its affiliates may have positions in, and may effect transactions in, the markets, industry sectors and companies described herein.