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CNBC PRO Talks

JPMorgan’s $1 trillion money man: Nothing's cheap

Richard Madigan, who's responsible for the strategic allocation of more than $1 trillion in assets from high net worth individuals and institutions at JPMorgan Private Bank, believes the hunt for yield in a world of disappearing returns and negative interest rates has pushed most asset classes into overvalued territory.

"There's nothing cheap out there today," Madigan said during an exclusive interview hosted by CNBC's Mike Santoli. "The negative gravity field around negative interest rates have distorted everything right now."

In this wide-ranging conversation, Madigan also touches on:

  • Timeless investment lessons for every market participant.
  • How to identify value opportunities in a headline-driven environment and when to take action.
  • The one metric that signals the rally could keep going into next year.
  • His favorite sectors for the months ahead.
  • Which world markets are poised to outperform.

PRO subscribers can also read the entire transcript of the exclusive interview below.