Sandler attributes this to long-term structural changes such as ESG infrastructure. “We’re building a whole new energy system, which we already have,” he says. “It’s not new productive capital, it’s capital that’s going in to rebuild something we have, similar to rebuilding supply chains for nearshoring.”

“Those two trends, plus the strength of labour in negotiating stronger contracts around the globe, I think means inflation will probably run closer to 3 per cent, and long-term interest rates, at least in the US, probably will remain north of 4 per cent for a while.”

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Sandler won’t be the only one flying into the conference as it enters its eighth year in November.

Sohn Hearts & Minds co-founder Matthew Grounds says the conference, which has raised more than $60 million dollars for Australian medical research organisations since its inception, would welcome more international fund managers than ever before.

“Normally, we have about 60 per cent domestic fund managers and 40 per cent from offshore,” he says. “This year, it’s swung the other way. It’s about 80 per cent offshore.”

Grounds, who is the co-executive chairman of Barrenjoey, says longevity expert Peter Attia will be one of the key speakers at the event, along with 11 hand-picked fund managers.

“The fund managers basically pitch a stock, and they do it in eight minutes,” he says. “When I say that quickly, it sounds easy, but to actually distil the characteristics of a company and its valuation, and to be able to do that clearly while entertaining the audience is actually very hard.”

Sandler says while he doesn’t anticipate a repeat performance of his top stock pick, the conference would be a meaningful use of his resources.

“To come out here and change lives, and support medical research, I can’t think of anything more meaningful,” he says.

This masthead’s owner, Nine Entertainment, is a media partner of the Sohn event.

The Sohn Hearts & Minds conference will take place at the Sydney Opera House on November 17 with tickets available from the website.

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