The 'trade of the decade' is getting a bit old hat …. here comes the 'trade of the century'!
(Can't wait for the next cab off the rank, trade of the millennium)
Its to buy gold and sell stocks
- reasoning is risk assets are due for another meltdown
While the consensus is pointing to a recession in 2020 or 2021 … the fund says "We think it's a lot closer than that and we have a number of macro timing indicators that we look at." For example:
- corporate insiders currently selling stocks 'hand over fist'
- U.S. economic data is deteriorating
- inversions remain across the Treasury yield curve … "The last two times the credit markets had such a high distortion, asset bubbles began to fall apart shortly thereafter,"
The piece is here at Bloomberg if you'd lie more food for thought.
'Mmmmm, gold'
