Portfolio Review 2Q20

Portfolio Review 2Q20

Global stock markets zooming ahead amidst historic unemployment and economic contraction is surreal. Half of the U.S. has been locked down, with economies virtually shut, a second virus wave appears underway, yet the stock market is almost back to February’s highs (the Nasdaq is at all-time highs). And this is not only in the U.S.; Brazilian stocks are up 35% in the past six weeks amid a deepening virus crisis. We know that central bank money creation is the primary cause, but this dichotomy cannot continue indefinitely, at least without a meaningful correction. We discuss this below. Meanwhile, gold—for sounder reasons than stocks—has outperformed and, notwithstanding anticipated volatility, will, we think, continue to do so. Finish reading here: Portfolio Review 2020 2Q

You are now leaving Adrian Day Asset Management

You are now leaving www.adriandayassetmanagement.com. Hyperlinks on this website are provided as a convenience and we disclaim any responsibility for information, services or products found on the websites linked hereto.

You will be redirected to

Click the link above to continue or CANCEL