FireSide: Economy, markets and Taylor Swift

Taylor Swift and the era for alts. What the pop phenomenon tells us about asset allocation, private equity and alternative investments.

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September 5, 2023 | 36 minute read

About this episode:

Taylor Swift may be the biggest trend in the economy today. And it’s not just because her Eras tour is giving a lift to everything from airlines to hotels (what other pop star can claim chart-toppers on both Billboard and the Fed’s Beige Book?), but it’s also because of the intriguing way her meteoric rise echoes best practices in accessing alternatives and private equity.

In this episode, we assemble a powerhouse panel of market experts (and enthusiastic Swifties) from across our Research, Marketing, and Investment teams to discuss what the Taylor Swift phenomenon tells us about the economy, asset allocation and alternative investments.


Lara Rhame, Chief U.S. Economist
Liz Campbell, Chief Investment Officer, Portfolio Advisors
Ryan Caldwell, Chief Investment Officer, Chiron Funds
Caroline Manion, Director, Product Marketing
Abby Crowley, Associate, Product Marketing

Transcript excerpt:

Lara Rhame [00:05]: Welcome back to FireSide, a podcast by FS Investment. I’m Lara Rhame, Chief U.S. Economist, and today I want to talk about the biggest economic trend in our country, Taylor Swift. Nothing boring like employment or a housing market.

Correction, note, we are taking a break from our regularly scheduled programming to discuss this incredible performer and businesswoman. And before we dive in, I just want to step back a minute and talk about what we always try to do with these podcasts. Because why I love my job is because I get to focus on this connectivity between markets and investors, but I’m always conscious when I talk to advisors that their clients are really their most important relationship.

And these conversations aren’t just financial, they’re personal, they’re about family. And probably Taylor Swift has come up when they’re talking to their clients and their client’s’ kids. Their entire family has probably been impacted some way or another by this remarkable concert series that started in the, when did it start, Abby? I don’t know.

Caroline Manion [01:15]: Spring.

Lara Rhame [01:15]: The spring. Thanks Caroline. Okay, so you’ve already heard them. Here I’m going to introduce two of my colleagues, Abby Crowley and Caroline Manion, who are stars of their own right in our marketing department and are the real reason why we’re doing this podcast today. Would you two describe yourself as Swifties?

Abby Crowley [01:32]: A hundred percent.

Caroline Manion [01:33]: Absolutely.

Lara Rhame [01:33]: Alright. So, you guys are going to really give us the education and capture the dynamism of this performer. Alright, so I’m also joined by Liz Campbell, who is the Chief Investment Officer of Portfolio Advisors. Our firms have recently merged, and I confess, Liz, I have been so eager to get you on a podcast, so I’m very, very excited for today. Welcome.

This information is educational in nature and does not constitute a financial promotion, investment advice or an inducement or incitement to participate in any product, offering or investment. FS Investments is not adopting, making a recommendation for or endorsing any investment strategy or particular security. All views, opinions and positions expressed herein are that of the author and do not necessarily reflect the views, opinions or positions of FS Investments. All opinions are subject to change without notice, and you should always obtain current information and perform due diligence before participating in any investment. FS Investments does not provide legal or tax advice and the information herein should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact any investment result. FS Investments cannot guarantee that the information herein is accurate, complete, or timely. FS Investments makes no warranties with regard to such information or results obtained by its use, and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information.

Any projections, forecasts and estimates contained herein are based upon certain assumptions that the author considers reasonable. Projections are necessarily speculative in nature, and it can be expected that some or all of the assumptions underlying the projections will not materialize or will vary significantly from actual results. The inclusion of projections herein should not be regarded as a representation or guarantee regarding the reliability, accuracy or completeness of the information contained herein, and neither FS Investments nor the author are under any obligation to update or keep current such information.

All investing is subject to risk, including the possible loss of the money you invest.

Lara Rhame

Chief U.S. Economist + Managing Director

Liz Campbell

Managing Director

Ryan Caldwell

Managing Director, FS Investments

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