Charles Gave

Gavekal; Wicksellian framework, savings-investment imbalance

Charles Gave is the co-founder of Gavekal Research, a Hong Kong-based macro research and asset-management firm. He built a multi-decade track record as a French economist and fund manager before establishing Gavekal, where he developed a framework distinguishing the natural rate of interest from the market rate to diagnose capital misallocation. His signature thesis holds that central-bank suppression of rates distorts savings-investment equilibria, producing boom-bust cycles across asset classes.