Gold…The “Trade Of The Century”
One of last year’s best-performing hedge funds says the “trade of the century” is to buy gold and sell stocks as risk assets are due for another meltdown.The consensus is pointing to a recession in 2020 or 2021, Tavi Costa, a global macro analyst at Crescat, said by phone. “We think it’s a lot closer than that and we have a number of macro timing indicators that we look at.”Going long gold in yuan terms and shorting global equities currently explains three-quarters of the hedge fund’s strategy.“We’re not perma-bears by any means,” Costa said. “This is
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