ANDRÉ JAKURSKI: LIÇÕES IMPERDÍVEIS DE QUASE 50 ANOS DE MERCADO | Market Makers #380

Is fixed income really the investor's safe haven when the world is accumulating debt and interest rates remain high? André Jakurski, founding partner of Pactual and JGP, talks with Thiago Salomão about the risks and opportunities of a world in transformation. In this interview, Jakurski explains why investors shouldn't try to predict the future—but rather learn to manage uncertainty. The conversation touches on US debt, demographics, China, artificial intelligence, high interest rates, credit in Brazil, the stock market, fixed income, and asset protection. In André's view, investing isn't about predicting the future. It's about surviving mistakes, protecting assets, and being prepared when a great opportunity arises. 00:00 Intro 01:12 Opening and presentation by André Jakurski 03:46 Geopolitics in 2026: war, Iran and Kevin Warsh at the Fed 07:43 American debt went from $5 trillion to $40 trillion: what does that mean? 10:55 The global demographic problem and the aging of the world 16:29 Neutron bomb: how to protect your assets in the event of a collapse 20:12 American stock market: are we on a plateau or is there still life left? 25:10 Artificial intelligence and long-term optimism 28:00 China: exporting deflation and weakening Brazil 30:57 Brazil: mediocre future, extortionate interest rates and growing debt 37:22 Why adjustment only comes after the crisis 43:47 The concept of "going for the jugular": rare and decisive opportunities 48:20 Humility, fear and the mindset of the trader that lasts for decades 51:05 The story of Sigma Lithium: a 10-bagger that was too small 55:42 The true story of how he founded Pactual with R$600,000 01:04:15 The episode in which George Soros traded with Jakurski 01:09:30 Telebrás: the trade that changed the history of the Brazilian market 01:22:45 Luck vs. merit: the real weight of each in your trajectory 01:27:32 Ping-pong: Books, music, a guest, and the greatest kindness in life Comment: today, what worries you most about your portfolio — high interest rates, public debt, inflation, the stock market, or credit? 📌 Subscribe to the channel and activate notifications so you don't miss any episodes! 📢 Support Market Makers and help strengthen the capital market in Brazil! Click the link and become a member of our channel for only R$7.99 per month:    / @mmakers   📩 Join our free newsletter: https://lp.mmakers.com.br/newsletter_... 📢 Advertise your brand on Market Makers: [email protected] 📚 Market Makers Library: https://lp.mmakers.com.br/biblioteca/... - - - - - - - - ANDRÉ JAKURSKI | Market Makers #380 Hosts: Thiago Salomão (Market Makers Host) Guest: André Jakurski (Founding Partner of JGP) Editing: Igor Conrado and Pedro Pereira Filming: Renan Moncoski #ANDRÉJAKURSKI #STOCKMARKET #INVESTMENTS #FINANCIALMARRCADO #MARKETMAKERS #THIAGOSALOMÃO