Trump Brought Boom-Bust Economic Scenario, Says AllianzGI's Dwane

The video discusses the impact of fiscal stimulus on the central bank's ability to manage economic downturns, suggesting that recent policies may lead to a boom-bust scenario in the US economy. It highlights market concerns about a potential recession by 2020 due to accelerated demand. The discussion also covers the underpricing of rate rises by the market and the implications of economic leverage. Additionally, it examines the performance of value investments compared to defensives, noting the influence of disruptors and millennial consumers on traditional value industries.

In what ways has the rise of the millennial consumer affected value industries?

What are the specific industry reasons mentioned for the underperformance of value industries?