JPMorgan Sees 2019 as 'Seminal Year' for Risk

The video discusses global GDP growth projections of 2.5% over the next 10-15 years, highlighting the potential for significant economic milestones in the US. It emphasizes the importance of understanding market cycles and suggests that investors should consider a more defensive portfolio due to growth concerns and rising interest rates. The discussion also covers the challenges of finding compelling investment opportunities globally and the need to focus on US markets. The key to long-term investing is preparing for future cycles and understanding growth contours beyond 2019.

What factors are leading to a more defensive portfolio strategy according to the text?

What is the key to long-term investing as mentioned in the text?